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Updated almost 6 years ago on . Most recent reply

User Stats

53
Posts
8
Votes
Felix Torres
  • Chelsea, MA
8
Votes |
53
Posts

How to get a second home when you’re still under FHA

Felix Torres
  • Chelsea, MA
Posted

Hi Everyone,

I want to purchase a second home and use my current as a rental. 

The only thing is, my current home is under FHA.

Can anyone help me figure out what my options are?

Thank you,

Felix 

Most Popular Reply

User Stats

4,876
Posts
2,466
Votes
Jaysen Medhurst
  • Rental Property Investor
  • Greenwich, CT
2,466
Votes |
4,876
Posts
Jaysen Medhurst
  • Rental Property Investor
  • Greenwich, CT
Replied

@Felix Torres, as long as you spend 1 year in the current (FHA) house, you're fine.

Have you run the numbers on your current house? Will it actually make a good rental? Might be hard with so much leverage.

  • Jaysen Medhurst
  • Loading replies...