A second fha loan

[Robert Richardson]

I have a duplex in California had it since 2015 brought it with a FHA loan if I refinance to a Conventional am I able to buy again with the FHA loan?

[Tamara Deering]

@Robert Richardson

I'm sorry I misread your question. If you have enough equity in your existing home you can refinance to a conventional loan and get rid of the PMI. Typically it is 20% in equity. And yes, you may be able to qualify for a new owner occupied FHA loan but your debt to income would need to be in line, so the rents from the duplex would probably need to cover the mortgage. I am not a residential consumer lender so I'm not well versed in the intricacies of making this work out. I would find a NMLS loan originator/broker in your market and ask them to find some loan programs that would work for you.