Location: Indiana
Submitted 10/24/09 07:12 PM

Q. My mother and sister live in Florida and I live in Evansville, IN. The three of us would like to buy a house together in Evansville that I will move into immediately and into which they will move in the coming year. The three of us would like to jointly apply for an FHA mortgage. Is that possible? Since one of the three of us has not owned a home in several years, would we qualify (because of her) for the $8,000 first-time homeowner tax credit? What are the best FHA rates available in Vanderburgh County on a 30-year fixed? How can we streamline the application/approval process given they are in FL and I'm in IN? Any other advice or tips you might offer? Thank you!

 

Answer #1
Submitted 10/29/09 09:41 PM
Donna Harris, REALTOR® & ASP - Hill Country Austin Lakeway Homes (RE/MAX Austin Skyline): Real Estate Agent in Austin, TX Donna Harris, REALTOR® & ASP - Hill Country Austin Lakeway Homes (RE/MAX Austin Skyline)
Real Estate Agent
Austin, TX

Contact Me

A.

No one on the mortgage can own a home for three years in order to qualify so your plan is not going to work.
ActiveRain Sponsors Yourtown_advisor_logo Freewebinar_125x125 Quantumdigital_sitetilead_july Activerain200910

Disclaimer: ActiveRain does not evaluate or guarantee the accuracy of any Ask a Real Estate Professional responses. All questions and responses are provided by ActiveRain Real Estate Network community members. You agree that any use you make of such responses is at your own risk and that ActiveRain is not responsible for any losses resulting from your reliance on any Ask a Real Estate Professional responses. Ask a Real Estate Professional responses should never be used as a substitute for advice from a qualified professional. By submitting a question to Ask a Real Estate Professional, you acknowledge that ActiveRain is not responsible for any response you receive or do not receive, and you agree to hold ActiveRain harmless from any loss, harm, injury or damage resulting from or arising out of your submission of the question or your use of or reliance on any response thereto.