Taking the Real Estate Leap

[Jermaine McIntosh]

Hey everyone,

I am new to the community and have a few questions. Is it possible as a homeowner in a 2-family home purchased through an FHA loan and resided for over a year to again purchase a new home (2-4 family) as an owner-occupant with an FHA Loan or a conventional loan of 5% or less for the downpayment. If so, I'm interested in knowing if this can be done in the Metro NY area.

Thanks,

Jermaine

[Albert Bui]

yes you can have two fha loans if you qualify for one of the four exceptions available that is correct Brie! 

The 3-5% down is for 1 unit primary residence as well. It can also be done with no monthly mortgage Insurance as well.