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Updated over 11 years ago,
FHA for second home?
I may be moving to Atlanta in July of next year. I want to turn my current home into a rental. Because I will not be selling my home I will not have much money for a down payment for a new home. I am wondering if I will qualify for an FHA loan. My current loan is not an fha. I am curious if I will qualify for an FHA loan. Will my current loan hurt my debt to income ratio? My current mortgage payment is 1150 and will be renting it for $2000. I want to buy as soon as I move so I will have no proof of rental income. My wife and I will also have new jobs (in the same field). Let me know what you thik. Thanks for any input you may have.