Is it possible to hold 2 FHA loans? I have one on my current residence and am looking to buy a duplex that is located just over 100 miles away. Will I have to refinance the current FHA into a conventional loan first?
Yes, if you are moving for work that far it is one of the exemptions.
@Brettina Cota You meet the guidelines of FHA. You should be okay.
Thank you Harjeet for your input.
@Bettina Cota - Typically, you are not allowed to hold 2 FHA loans. As Wayne and Harjeet said, if you do have an FHA loan outstanding and are forced to move, you would be exempt from the rule and allowed to obtain an additional FHA loan.
Hope this helps!
Thank you so much for all your information. I appreciate the information.