Buying a 2nd Home w/ FHAMy husband and I currently own a home with a traditional 30 year fixed rate mortgage. We are looking to downsize and purchase a townhouse. We are considering going with FHA. Will FHA allow us to purchase a second home to be used as our primary residence? Due to unforeseen circumstances, a family member has moved in with us and we will be renting our current home to him. We have never missed a payment on our current mortgage (or the mortgage prior to that), but we do owe more on our current home than it currently appraises.March 29 2012 - Jacksonville00YesReport a ProblemProblemSelect oneOffensive contentIrrelevant contentSpam (pure self-promotion)OtherDetailsYour emailPlease enter a valid email address.Submit CancelContent flaggedWe will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.We're sorry. This service is temporarily unavailable. Please come back later and try again.