You don't have to be a first-time buyer to get an FHA loan — it just has to be your primary home. Bust the most common FHA myths, including using FHA more than once.

FHA loans are one of the most misunderstood tools in home-buying. Let's clear up who can actually use one — and how often.

FHA loans — mortgages insured by the Federal Housing Administration — are a powerful path to homeownership, especially if your credit or down payment isn't picture-perfect. But a pile of myths keeps people from using them. Here are the big ones, and the truth.

Myth #1: "FHA loans are only for first-time buyers"

There is no first-time-buyer requirement for an FHA loan. The program is open to repeat buyers just the same. The "first-time buyer" association comes from the fact that FHA's low down payment and flexible credit rules make it popular with first-timers — but popularity isn't a rule.

The one real catch: it has to be your home

FHA's actual core requirement is occupancy. An FHA loan must be for your primary residence — the place you actually live. You can't use it for a pure investment property or a vacation flip. As a rule of thumb, you're expected to move in within 60 days of closing and live there as your main home.

Myth #2: "You can only ever get one FHA loan"

You're generally expected to have only one FHA loan at a time, because each one must be your primary residence. But once you've paid off or refinanced out of a previous FHA loan, you can use the program again for your next home. Life changes — a new job, a growing family, a move across the country — and FHA can be there for more than one chapter.

Myth #3: "You need great credit to qualify"

FHA was designed to be more forgiving on credit than conventional loans. Many lenders work with lower scores, and FHA allows smaller down payments. The trade-off is mortgage insurance (MIP) — which, with a low down payment, often lasts the life of the loan. A common smart move is to use FHA to buy, then refinance to a conventional loan once you've built equity to drop that insurance.

Bottom line

If you'll live in the home and you qualify, an FHA loan is on the table — whether it's your first home or not, and even if you've used one before. Don't let the myths talk you out of a tool that might be your best path in.

Sources: U.S. Department of Housing and Urban Development (HUD) / Federal Housing Administration (FHA) single-family housing policy handbook; Consumer Financial Protection Bureau (CFPB) guidance on FHA loans and owner-occupancy requirements.