FHA Loans

[Ethan Beutel]

Hi all, I have a question regarding FHA loan financing.

I currently own a duplex in Buffalo, NY (my hometown) that I financed with a conventional mortgage (20% down). I did this because I am currently finishing up college in Boston, where I would not be able to afford the downpayment (even with an FHA loan) on a multi-family property commutable to my school.

So my question is this: after graduating and settling down with a full-time job somewhere, will I be able to qualify for an FHA loan on a multifamily property (where I would reside in one of the units) even though I currently own investment property? A google search yielded a variety of answers, I was hoping somebody in the community had experience with this.

Thanks!

Ethan Beutel

[Wayne Brooks]

Yes.  What else you own is irrelevant as long you qualify for the loan, and will live in it.