Second FHA Loan Loophole?

[Jermaine Washington]

Second FHA Loan question. I currently have a FHA loan from 2 years ago for my home in Michigan. In the past year I switched jobs and started working for a Corporation in Phoenix Arizona. Will I be able to qualify for a second fha loan in AZ while I still have my home in MI. I would like to keep that one because I have family living there and for the price I bought my house the value has increased 3x that and it’s also bringing me extra income. So I’m not underwater or anything. Will FHA take me switching jobs and relocating as an exemption. The only reason I ask is because the rules say if your job relocates you but I switched jobs and make more money also but will this be ok with them?

[Wayne Brooks]

Yes, there a few exemptions....moving more than 50/100 miles for work is one of them (family size increase, etc.)  Just talk to a local lender.