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Updated almost 8 years ago,

User Stats

216
Posts
57
Votes
Mark Smith
  • Schaghticoke, NY
57
Votes |
216
Posts

USDA and FHA Mortgages

Mark Smith
  • Schaghticoke, NY
Posted
I used an FHA mortgage to purchase my first two family. I lived there for a while, and now my fiancé and I are looking for a single family. I have permission from the bank to not live in my two family any longer, however I would really like to use a USDA loan for the single family. I'm sure I know the answer to this, but since my two family is still under an FHA mortgage, can I get a USDA? There's no way I have enough equity to refinance my two family yet, so I don't think I can get out of the FHA in the near future. Thoughts?