To prevent circumventing the limitations associated with FHA-insured mortgage loans to investors, FHA generally won’t insure far more than 1 mortgage for any borrower unless they meet this criteria:

Relocations. If If the borrower is relocating and will reside in another region that is not within a reasonable commuting distance from the present principal residence, the borrower may possibly obtain another FHA insured mortgage with out being required to sell their existing FHA insured home.

The relocation doesn’t have to be mandated by an employer to qualify. If the borrower returns to an area where their house is insured by FHA they don’t need to make it their primary residence to be able to get an additional FHA insured loans

Enhance in Family Size. The borrower (s) might be allowed to acquire another property with FHA insurance if their number of dependents grow to a point that the home no longer meets their requirements. The borrower must prove the improve in dependents and the property’s failure to meet their requirements.

The borrower(s) should lower the outstanding home loan balance on the present property to a 75 % or lower loan-to-value (LTV) ratio. Only a present residential appraisal may possibly be employed as proof.
property.

Vacating a Jointly Owned Property. If the borrower is vacating a residence which will stay occupied by a co-borrower, the borrower is permitted to acquire yet another FHA-insured mortgage. An acceptable example would be a divorce, after which the vacating ex-spouse will purchase a new residence, or 1 of the co-borrowers will vacate the existing house.
Non-Occupying Co-Borrower. A non-occupying co-borrower on property being
bought with an FHA-insured mortgage as a principal residence by other family members may well have a joint interest in that property as well as in a principal residence of their own with a FHA-insured mortgage. Specific restrictions apply as per Agustus C. Matherson.

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