How quickly can you get another FHA loan?

[Christian Allen]

I used an FHA loan for my first triplex to househack and after a year would like to use an FHA loan to househack another triplex. My mortgage broker told me I would have issues with this because the underwriter would see that I moved so quickly from one multifamily property to the next and question the reasoning for moving.

Has anyone had success in using an FHA loan within ~1 year after originating the first? Any other strategies for using a second owner occupied low down payment loan for a multifamily househack?

[Anthony Thompson]

Christian, if you're going to make money on the sale, you might consider staying 2 years so that the profit will be tax free (see The $250,000/$500,000 Home Sale Tax Exclusion: One of the most valuable deductions ever when you sell your house). That would probably solve two problems at once, the FHA moving-too-soon issue, and having to pay taxes on the gain.

Other than that thought, I haven't personally had experience with moving just a year after closing on the first property. But the thought of paying 40% taxes on the gain (or whatever your highest marginal tax rate is) would keep me there for another year. YMMV :)