Can you have two FHA loans at once?

[Alexander Rotolo]

I house hacked my duplex with an FHA loan. My fiancee and I want another rental to expand our portfolio. We are willing to house hack again. Would I qualify for another FHA loan if my first property is not entirely paid off yet? We have lived in this property for over two years.

-Alex R. Buffalo NY

[Alexander Rotolo]

@Michael K Gallagher That sounds like a reasonable idea. I'm talking to a mortgage broker this week about refinancing options. I wonder if switching it to a conventional loan might solve that problem.