Homestyle FHA Loan to purchase a 2nd rental property

[Emanuel Ohunwu]

So I'm working on buying my 1st investment property that's a townhouse. I found a duplex in Dallas that I'm also interested in purchasing using a FHA homestyle loan. Can I buy a 2nd property that I intend on occupying using a homestyle loan? The 1st property will be with a 30yr traditional mortgage. I'm waiting to hear from the mortgage company on whether I'll be able to put the 1st home under my LLC. Has any ever used a homestyle loan?

[Patrick Ellis]

Emanuel, I do believe you can purchase a second home using a Homestyle. As long as the first was not a Homestyle. You will need to work with an approved contractor on the remodel.  If you need help, we are approved and a preferred contractor for Homestyle and 203K projects.