Beginning investing and potential effect on FHA approval

[Gabriel P.]

Hello biggerpockets member! Can getting involved in real estate, an a newbie investor, effect the opportunity to eventually obtain an FHA loan down to road?? I know the program is for first time home owners who must live in the home for a year but I wanted to know what else I should be aware of. Thank you!!

[Upen Patel]

@Gabriel P. The only restriction (at lease for now) is that you can only have 1 (one) FHA loan at any given time. And Yes it needs to be OO. You can get a FHA loan at any time and can close one out and get an another one.

Upen Patel, Mortgage Banker

Federal NMLS# 1374243