Can you buy an fha home if you own an fha home that is a rental?

No you can't usually,unless their is an extenuating circumstance like relocation.

No, you may only have one home financed under an FHA loan. If you wanted to use an FHA loan to finance your next home purchase you would have to first refinance your current FHA loan to a conventional loan.

Very, Very few scenarios where they would allow this, but in general, no.. FHA is only intended for owner occupied properties and, for most scenarios, you are only allowed one FHA loan at a time.. A couple of scenarios would be if you had a sick relative and you need to move closer to provide care for that individual, then FHA would allow you to purchase another home.. Moving closer to work, or you outgrew your current home, all could be considered an acceptable reason to allow for a 2nd FHA loan, but understand that your loan would be subject to scrutiny and the story has to make sense and verified.. but realistically, you shouldn't even be considering FHA right now anyway.. FHA requires 3.5% down, while conventional requires 5%.. however the mortgage insurance for conventional is much lower and once you've paid 2 years and hit 20% equity, you can get the MI removed.. FHA has very expensive MI and it's for the life of the loan.. Just put 1.5% more down and your done!! I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com

Generally speaking, you can only have one FHA loan at a time. There are a few exceptions to that rule that may allow you to have two. Contact a local FHA mortgage specialist for more information on what those exception are, and if you qualify. www.MortgagesUnlimited.biz

Hi Shamus, Unfortunately no, You would have to refinance your Rental into a conventional loan first before you could obtain another FHA mortgage. Please call our office and we'd be delighted to assist you with this.