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Private Lending & Conventional Mortgage Advice

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Tim Zmuda
  • Real Estate Agent
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Currently have owner occupied laon

Tim Zmuda
  • Real Estate Agent
Posted Apr 19 2021, 13:35

Ive heard so many different things from so many different lenders and would love some clarity on my situation. So I bought a duplex two years ago with FHA owner occupied loan. I just refinanced out to a conventional owner occupied loan and with my renovations was able to get the 20% equity in the property...so Im not using FHA loan anymore. I still live in that duplex. Can I use the FHA loan again to finance another multifamily that I would occupy? I know to use FHA again I have to wait atleast a year and have to occupy the property. Their shouldn't be any issues because I plan on moving into another duplex? And I only will have one FHA loan in my name. I was told it had to be single family and heard from others its a one and done... now I feel like im spinning in circles with all types of info. Please help

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