FHA / VA Residency Requirements

[Jay J.]

Hello All!

I have a question for all the FHA Expert lenders out there..

My second (freelance) job takes me out of state occasionally. As things improve, I'll be able to do more 'out of state' work, thus I'll be out of state more often and for longer periods of time. Eventually causing me to stay overnight, duhh..

So, at what point does residency become an issue if I have a loan (FHA or VA) that
requires occupancy? At what point does this become a problem? What if I work outta state 4 out of 7 days a week? Is there a limit to the 'time away from the property' before someone (namely the bank) cares?

..and I guess to take this a step further, if you job makes you split time between cities, can you have two FHA / VA loans? (I'm thinking no, but I thought I'd ask..)