All Forum Posts by: Ryan Modesitt

Thank you for the responses. Great point, and agreed! The low-DP conventional loan is preferred, but I was originally told by the lender that financed my first property that it would be difficult to acquire, even though it is owner occupant...hence the FHA loan. I was just wondering if there would be any concern from the FHA with someone who is moving from one building to another building of the same type, and who is really viewing the property as an investment...

Also, you have convinced me to shop around and contact local lenders to see if a low-DP conventional loan is offered elsewhere. So, thank you! 

Hello! New BiggerPockets member!

I purchased an owner-occupied three-family property a little over a year ago with a conventional loan (5% down). I am now planning to purchase a second property, applying a similar strategy but I prefer to finance through an FHA loan. I do plan to live in the new property for at least one year but also understand there are other factors to consider since this is my second purchase…

Are there certain FHA rules or restrictions for second home purchases? How likely is it to receive FHA financing for a second owner-occupied rental property?

Any advice or thoughts would be much appreciated!

Thanks!

Ryan