Obtain a FHA Loan When I Recently Refinanced my Current Home?

[Aldrin Colorado]

Is it possible to get a FHA loan on a new investment property, single to fourplex, (which I plan to move into for the first year) if I currently own a home that I just RECENTLY refinanced with a conventional loan in the same city WITHIN 40 miles away?

Or is it not possible since my current home is considered owner occupied? 

[John Warren]

@Aldrin Colorado it is possible for sure. I have had multiple clients here in the Chicago market refinance out of an FHA to conventional so that they opened that loan up for use again. You will need a good lender who understands what you are trying to do. Not every lender is created equal, and I went through a handful of duds before I found an awesome lender.