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FHA Loans and Military Service

July 16, 2012

A reader asks, “Can you still use the FHA while being stationed overseas and still active duty?”

This is a fairly complex issue and the answer is dependent on circumstances. If an active duty military borrower wishes to purchase a home with an FHA mortgage loan while still stationed overseas, there are several questions to be answered, including how the borrower intends to execute the FHA loan application.

Eligible borrowers who are able to fill out the application themselves may be able to clear this initial hurdle, but those who rely on a power of attorney should know the FHA rules on loan applications in these situations:

In general the FHA rules state, “The initial mortgage loan application may not be executed by using a power of attorney, except in circumstances as indicated below. ” (Editor’s note: emphasis ours)

The FHA rules add, “Either the initial application or the final, if one is used, must contain the signatures of all borrowers.”

What circumstances permit the use of a power of attorney for an FHA home loan? According to the FHA those circumstances do include military members assigned overseas:

“A power of attorney may be used for military personnel on

Joe Wallace - Staff Writer

By Joe Wallace

Joe Wallace has been specializing in military and personal finance topics since 1995. His work has appeared on Air Force Television News, The Pentagon Channel, ABC and a variety of print and online publications. He is a 13-year Air Force veteran and a member of the Air Force Public Affairs Alumni Association. He was Managing editor for www.valoans.com for (8) years and is currently the Associate Editor for FHANewsblog.com.

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