203k loan question ?

[Frank Rivers]

I already have a rental property and now I’m looking to buy a primary home but with a 203k loan is that possible? Both places are miles apart.

[Michael Noto]

@Frank Rivers Do you currently own any property where you have an active FHA loan on it? How far away mileage wise are the two homes?

I had a client that was able to get multiple FHA loans, but he was relocating from Massachusetts to Connecticut for his job about 80 miles away if I remember correctly and that fit the mileage threshold for him to get the 2nd FHA loan. It could be the properties aren't far enough away or maybe the mortgage broker is not aware of the intricacies of the loan product.