Loan question on Home Possible

[David Kohler]

Hello BP. I just have a quick question when it comes to financing a deal utilizing the HomeReady, or Homepossible method. Online it says to be eligible you must not own another home. Therefore using this for your first purchase seems like a good idea, however to purchase your 2nd property (say FHA or conventional) would that make you no longer eligible for your loan on the first property?

Trying to decide the best path for getting started. I appreciate any help at all on this!