Potential of using FHA loan multiple times?

[Derek Burkard]

I'm currently house hacking a duplex through a FHA loan but am struggling to get a large sum of money for a down payment on another property. Is there potential behind the strategy of using a refi on my duplex to get a conventional loan. Then attempting to house hack into another multi family to get access to the FHA low down payment benefit again?

[Jaysen Medhurst]

Yes, that possible, @Derek Burkard. Assuming your credit, DTI, etc. are all in order, you should be able to get another FHA. As I think you know, you can only have one at a time. If you qualify, a better approach is to use a low-down payment conventional loan, instead of FHA. Most local banks and CUs offer them. There is less paperwork, no up-front PMI, and monthly PMI drops when you hit 78-80% LTV.