Buying second property

[Lazar Kocev]

Hi guys. I bought my first home few months ago with FHA loan with low downpayment and Im living in it, in FL. Now Im really interested in buying another property in MA in in the summer of 2017 in the range of 150-200k, but what Im worried about is the loan. All I could find is that for the second property you need at least 15% with good credit or 20% with credit under 700. Thats all I will have till the summer so I dont want to spend all of it on the downpayment. I thought of taking another FHA but they told me I have to wait one year for another one like that so Im looking for help how can I do that in another way, somebody who experienced this first hand and did it different way. Thank you i appreciate any answer.