Can I use an FHA loan to purchase a second home
Hi All,
I presently own my primary home with a conventional mortgage (we put 20% down 2 years ago) and I am now looking at starting to get into real estate investment in San Antonio. My plan is I would like to buy a 4-plex in San Antonio and be an owner occupier of one unit. My thinking is that I would live in one unit while making renovations to the unit and fixing the place up myself for 6-12 months. I plan to stay there 4-5 nights a week while my wife lives in our current house.
Google simply points me to a lot of articles of buy a second house using an FHA loan but I can't seem to get a clear answer on if I have a conventional mortgage can I buy a second home with an FHA loan.
I would be interested in others thoughts/tips and experiences.
Thanks
Scott