Buy Second Home when 1st loan is FHA

[HELP2017]

I have a home for over 5 years that's FHA and modified where they took away some of the principle a year ago. I have a better secured job and a husband whom is not on my home loan because I didn't know him at the time of the purchase. I want to keep my current home, rent and purchase a new home with my husband..... is this possible ? and if so will I be considered a 1st time homeowner if my husband is ??? he never owned a home.

[Brian B The Loan Professor]

Because of your recent modification I think you may run into a wall trying to get financing.

We would have to dive deeper into the details

He could however finance on his own. You could then rent your place

 

1st time buyer status doesnt do much for you these days he would be considered a 1st time home buyer you would not -

 

B