Question - First FHA in IN, Moved to CA, Second FHA Possible?

[Josh McGuire]

Fellow BP Colleagues,

I have owned one SFR in Indianapolis, IN for roughly 6 years. I purchased via FHA but moved to Los Angeles, CA roughly three years later. Since then I have been renting out that property to some great tenants (I know i'm lucky and extremely grateful!). I've been renting apartments and houses in Los Angeles since I moved and am finally close to having enough capital for a downpayment on a home out here. I've received several conflicting answers from lenders regarding the possibility of purchasing a home here in CA using FHA, since I still own the rental in Indiana that was purchased under an FHA mortgage. Anyone out there have some insight into if this is a possibility for me? Or any advice in general?

Thanks in advance! 

[Chris Mason]

For a definitive answer, have it run through underwriting as FHA for a TBD Approval. That means the HUD DE endorsed underwriter has made a credit decision. There are circumstances wherein you can have two FHA loans at once, and this actually looks like it checks at least a few of the boxes, but I'd run it through formal underwriting just to be sure, since the exceptions are so relatively uncommon (but not unheard of). Certainty is currency.