Can I get an FHA Loan if I already own an Investment Property?

[Tom Pignatello]

Hi all,

Thank you for taking the time to read my post.

I have a question regarding an FHA loan if I already own an investment property. I am currently living in Texas but plan to move to New Jersey in 9 months or so. I am looking at a few multi family investment opportunities in New Jersey and since I will not be able to live in one of the units just yet, I cannot take an FHA loan for my first investment. If I were to do traditional financing and put 20% down on my first property, can I still take an FHA loan for my next investment if I will be living in it?

Thank you in advance! 

[Anthony Gayden]

Originally posted by @Tom Pignatello:

Hi all,

Thank you for taking the time to read my post.

I have a question regarding an FHA loan if I already own an investment property. I am currently living in Texas but plan to move to New Jersey in 9 months or so. I am looking at a few multi family investment opportunities in New Jersey and since I will not be able to live in one of the units just yet, I cannot take an FHA loan for my first investment. If I were to do traditional financing and put 20% down on my first property, can I still take an FHA loan for my next investment if I will be living in it?

Thank you in advance! 

Yes, I did it. I bought a 4 plex with a conventional mortgage first. A few months later I bought another 4 plex with an FHA mortgage.