FHA and 203k

[John C S.]

Hi everybody. I have a question a friend if mine is trying to buy another home in a better school district. But the problem is he already has a FHA on the existing home he owns. He is still waiting for the appraisal to get back to see if he could do a cash out REFI. I had the though if that is not possible maby he can try and get a 203k loan. I know that is also considered a FHA but can he own his FHA house and also get a 203k. Thanks

[John C S.]

Yes i also forgot to mention the family is to large for the house no also. Thats what he is waiting on the appraisal to come back to cash out. I will inform them about the letter of explaining what their living conditions are like. Thanks for the input guys.