Refinanced my FHA203k duplex.Can I repeat with a 4plex??

[Randall Kates]

I purchased a duplex property last year and refinanced out of my FHA 203k loan into a really nice conventional. I spoke with a friend of mines who has experience with Annie Mac Mortgage I explained that i wanted to move again this time and purchase a three or four unit using another FHA 203k. He explained that this maneuver would draw red flags from FHA and that this is not possible. He says that their are some conditions in which it may work and one example was if I moved closer to my company and it being a shorter distance. Is this fact or fiction? Welcoming folks to chime in!!

[Michael Cohen]

Hi @Randall Kates -you can purchase again using an FHA loan. However, you would not be able to use the rental income as qualifying income if the new home is not at least 100 miles away so your qualifying income must support both mortgages without the use of the rental income.