Questions - FHA Loan

[Cameron Dewell]

I have been looking for 3-4 unit apartments where I currently live. I plan on using an FHA loan and occupying the property for at least the first year until I decide what market I want to move to for investing in real estate full-time. I generally understand how FHA loans work and have a few questions regarding them.

1. Private Mortgage Insurance must be used with FHA loans with low down payments, are the insurance payments tax deductible?

2. In the case of another housing market crash, will Private Mortgage Insurance rates go up or down?

3. From my understanding, you can only have one FHA loan at a time. However if you sell the property or refinance, are you able to get into another FHA loan right away or is there any kind of waiting period involved?

Thanks