FHA Loans
Can I get an FHA loan with a previous FHA loan?
Answered by Onias Derilus, Mortgage Capital · NMLS# 1859012 · Florida licensed mortgage broker
Generally you can hold only one FHA loan at a time, but exceptions exist: relocating for work beyond commuting distance, a growing family needing a larger home, or leaving a co-borrowed FHA loan.
If you're keeping the first home as a rental and meet an exception, a second FHA loan is possible. Otherwise we'll use a conventional loan for the new purchase. We'll confirm which exception applies.
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