Does an investment commercial property affect chances at FHA loan

[Mahmoud Ali]

Hello, 

I need to know if buying a commercial property for investment would affect my chances at a first home buyer loan/privileges. I currently don't own any property - I work at a school that provides me with housing. I found a very good deal on a a commercial unit in NH in a busy plaza (sale by owner) and I would like to buy it and rent it out. However, my wife and I were planning on buying a home and using the FHA program. Thus, I need to know if this will have any impact on the assistance we might qualify for. Our combined income is just under 200K and we might be able to buy the commercial space with cash rather than a loan. Thanks.