Primary Residence for Lenders when House Hacking

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I'm house hacking a quadplex. So I'm living in one unit and renting out the other three with a Home Possible 5% down loan. After a year of primary residence, can I jump right into an FHA loan with another quadplex? Or are there going to be issue with the primary residence questions from my lender (either the lender for the Home Possible loan or the FHA)?

It's not clear to me if my lender will allow me to make another quadplex my primary residence or if a new lender will allow me to do it either.  And in this scenario, with two different loan types, do I need a reason for changing primary residence (i.e. closer to work, better home, lost a job, etc.)?

That is a good question. The answer is likely hidden in the documents you signed at closing. I have a 4-plex that I bought on FHA that I know I will need to refinance out of in order to use FHA again. But, I'm not sure how Home Possible (which is a Freddie Mac program) may or may not limit your access to an FHA loan. What I *do* know is that my loan conditions required a 12-month residency before I could convert the building to 100% rental. After 12 months, even with an FHA loan in place, there is no requirement that you continue to live there. If there's an owner occupant requirement with Home Possible, I'd be willing to bet it has a similar condition of 12 months. We really need a finance expert to weigh in on whether or not you can keep the Home Possible loan and simultaneously pursue an FHA loan. I'm also curious about whether the inverse is true, so that I could leverage Home Possible while waiting to refi out of FHA.