FHA loan

[Andrew Villasenor]

Hello all,

Quick question....if I refinanced out of an FHA loan in July of 2015 (my primary residence) and was planning to house hack 2-4 unit property early next year, would I be able to get another FHA loan?

Thanks, Andrew

[Upen Patel]

@Andrew Villasenor You can have 1 FHA loan at any given time. If the FHA loan has already been paid off (or will be paid off at closing), then you can get a new FHA for purchase. If the property you are exiting is within 100 miles of the new property, then you will not be allowed to use the rental income from the old property to qualify you. Rental income for the new property will be used.