2nd Primary house

[Sean C.]

Sorry if this has already been answered.

We are planning to buy our 2nd primary home, since my work place is almost 2 hours from my current home. Would be nice to live near my work and visit family over the weekend.

a. Can I get a FHA loan for my 2nd home? What is the criteria which I need to meet inorder to qualify (i.e. how many days I need to occupy it)?

b. What if I move my job after 6 months, can I rent out my 2nd primary house?

Cheers

Sean

[Brian Ellefson]

Cant answer the first, but typically theres verbiage in the loan docs that says you can't rent out that second home for a certain period of time (one year, etc). If the bank found out they could call the note due.