Private Lending & Conventional Mortgage Advice
Market News & Data
General Info
Real Estate Strategies
Short-Term & Vacation Rental Discussions
presented by
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Tax, SDIRAs & Cost Segregation
presented by
1031 Exchanges
presented by
Real Estate Classifieds
Reviews & Feedback
Updated about 6 years ago on . Most recent reply
FHA Loan - can I qualify w/ an existing mortgage?
If I already have an existing mortgage am I able to use an FHA Loan for a SFH investment property (flip or buy and hold) ?
Most Popular Reply
Andrew Postell
#1 BRRRR - Buy, Rehab, Rent, Refinance, Repeat Contributor
#1 BRRRR - Buy, Rehab, Rent, Refinance, Repeat Contributor
- Lender
- Fort Worth, TX
- 6,317
- Votes |
- 7,926
- Posts
Andrew Postell
#1 BRRRR - Buy, Rehab, Rent, Refinance, Repeat Contributor
#1 BRRRR - Buy, Rehab, Rent, Refinance, Repeat Contributor
- Lender
- Fort Worth, TX
@Adam Heseltine you absolutely can and @Nicholas Lohr you are allowed to have more than 1 FHA loan if your family size increased (warranting you needing a bigger property) or if you had a job transfer out of your normal commuting range (generally 100 miles) and some things like that.
When using an FHA loan and already having an FHA loan your VACATING property will need 25% equity in order to use rental income from the vacating property. If you don't need it to qualify then it doesn't matter.
Hope this helps!