FHA Loans are NOT only for “First Time Home-Buyers”. Many Realtors are confused by this.
ANY qualified buyer can obtain FHA financing as long as he or she does not have FHA financing currently in place against another property (in most cases). Buyers can have/get TWO FHA loans if a move is necessitated by a job transfer or an increase in family size.
Being a “First Time Home-Buyer” really only makes a difference for tax purposes (accessing 401k funds, the former $8,000 tax credit, etc.), and for many Down Payment Assistance programs.
Call Jay Voorhees at (925) 855-4491
Real Estate Broker, CA Bureau of Real Estate, BRE# 01524255, NMLS# 335646