Does 203k loan need to be first time or primary residence?

[Bob Ross]

Can you use a 203k fha loan for a second gone that you plan to live in or does it need to be for first time hone buyer?

I do believe you need to live in the property as well, would you be able to do something like a 2 family conversion?

[Dan Weber]

You are only allowed to have one FHA loan at a time. So, if your first home purchase was an FHA loan and you have not refinanced yet, then you won't be able to do another FHA loan purchase and won't be able to do the 203k loan. All FHA loans require owner occupancy. Good luck!