Applying for second FHA loan
My girlfriend and I currently own our SFH with an FHA loan that we closed on in October of 2019. We are looking to rent our place out at the end of this year and purchase a 4-plex. Would we be able to qualify for anther FHA loan? What kind of obstacles should we be expecting?
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@Ryan Cleary you should be able to make it work if you are looking in FL. We were considering doing a second FHA loan because we are moving from RI to Florida, but then we found a really good attorney mortgage program (no PMI, same rates, etc.) so decided against it. Otherwise, I believe you would have to refinance. I did send over someone's contact last week and she is the loan officer we were planning to use for that second FHA loan. She is very knowledgable of that scenario.