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Buying my second first home and need advice.

I used an FHA loan to buy my first home 4 years ago. I'm now looking to purchase a multiplex but plan on moving my family into it. I was told that I can no longer apply for homes that are for primary residences since I already have a primary residence. Is this true? by amcuri452 from Elgin, Oregon. Dec 15th 2020 Reply

Lorne Harvey (lorneharvey)
#79 ranked lender in Washington - 433 contributions

You can have 2 FHA loans at the same time IF you have outgrown the home or employment transfer. I am in your area, happy to help. Please reach out to me at

Dec 15th 2020
Bert Carpenter (BertCarpenter)
#1 ranked lender in Arizona - 2,385 contributions

Of course you can look for and purchase another home as a primary residence. It is just that you will need to move into the purchase and make it your primary residence. FHA does have a rule that allows someone with an FHA loan on their current primary residence to buy another home using FHA financing and make it their new primary residence. The rule allows for the borrower to keep the current home and FHA loan, but requires that the new property be 50 miles away from the current home and the move is needed as a result of a significant life event, such as a growing family or a job relocation. If your plan is to sell the current home, an underwriter could give you an approval subject to the current home being under contract. ~ Bert Carpenter, The LoansA2z Team of NEXA Mortgage ~ NMLS 40586 ~ At NEXA, we've got you covered. We are licensed in all states except MA and NY and we are pending approval in VA, so give us a call. ~ 480-889-9000.

Dec 16th 2020
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