You can typically only have one FHA loan at a time (usually must occupy as a primary for a minimum of 12 months), but there are some extenuating circumstances such as a growing family or moving to a bigger property closer to work that would enable you to apply for a second FHA loan before departing.

It is disheartening to hear about such circumstances, particularly when children are affected.

There are some circumstances that will allow them to account for long or mid term rental rates when it comes to your pre-approval amount if your debt to income ratio is a concern.

Good Morning Sir It really depend on your circumstances. call me sir

Ive seen conflicting answers online and just want to know if Its legal for me to occupy the home down the life if life circumstances change and I need to while still renting out part of the house?

I also maintain cash in CDs that could be utilized in case of extreme circumstances.

If you previously bought a primary using an FHA loan..there are some exceptions that you could obtain a new FHA loan, usually within 12 months of occupancy and some extenuating circumstances that could allow for sooner.

There are some other extenuating circumstances that allow one to use more than one FHA loan at a time:- Relocating to an area beyond reasonable commuting distance to your current residence or affordable housing is not available - Leaving a jointly owned property to buy a home, and co-owner (such as divorce) plans to remain in the home.

I've actually accepted the application and I'm proceeding with the rental because the rest of their circumstances and referrals created a decent story which I evaluated to place the applicant in a "low risk" category.I'm just looking for some feedback regarding how to handle "additional" information, such as maternity leave, when evaluating an applicant.Thanks in advance for a continued discussion.

Consult with a tax professional or accountant for precise guidance on your specific situation, as tax rules can be complex and may vary depending on your individual circumstances.