Loan Officer Winston
Loan OfficerForum Replies Created
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You normally cannot have two FHA loans at the same time unless there are extenuating circumstances like moving to a different location beyond driving distance normally 100 miles. No, generally, you cannot have two FHA loans at the same time. FHA (Federal Housing Administration) loans are intended to help individuals with low to moderate incomes afford homes. They come with certain restrictions, including limits on the number of FHA loans an individual can have.
Typically, the FHA allows borrowers to have only one FHA-insured loan at a time. There are exceptions to this rule, such as when a borrower needs to relocate for work and wants to keep their existing home as a rental property while purchasing a new primary residence. However, such exceptions are rare and require approval from the FHA.
If you already have an FHA loan and want to purchase another property, you may need to explore other loan options, such as conventional loans, or consider paying off your existing FHA loan before applying for a new one. It’s essential to consult with a mortgage lender or financial advisor to explore the best options for your specific situation.
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Where I live, barndomeniums are very popular.
A barndominium is a type of building structure that combines elements of a barn and a condominium. It’s a style of architecture that originated in rural areas, particularly in the United States, where people sought to create living spaces that offer both the rustic charm of a barn and the modern amenities of a condominium.
Typically, a barndominium features a large, open living space with high ceilings, often utilizing the open floor plan characteristic of a barn. It may incorporate elements such as exposed beams, metal roofing, and large windows. However, unlike traditional barns, barndominiums are designed to be residential dwellings, so they include features like bedrooms, bathrooms, kitchens, and other living areas.
Barndominiums have gained popularity for their unique blend of functionality, affordability, and aesthetic appeal. They can be customized to suit individual preferences and offer a versatile living space that appeals to those looking for a rustic yet modern home.
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Just got off the phone with Gustan Cho Associates and he said that he will post your questions on this thread.
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What type of lead sources have you been using? I just joined NEXA Mortgage from retail and I am getting a lot of mix response when it comes to generating my own leads through organic traffic. I know a few top producers who are very successful at like Gustan Cho Associates but his team got the start years ago.