One of the biggest myths within the mortgage industry is that you cannot get an FHA loan if you have owned a home in the last three years. However, that is not true.
Even if you own a home right now and are selling that home in order to buy a new one, you can still qualify for an FHA loan. Whether or not you are able to get an FHA loan has to do with your credit score and your income, but it DOES NOT have to do with owning a home within the last three years. There are many options out there for first time home buyers. While FHA is certainly one of those options, that does not mean that others are excluding from going the FHA route.
