If I own a fha home can i use the rental income on an new fha home purchase

Profile picture for twrightn
My job is transfering me out side of the state and I wanted to know if the new regulations prohibits me to use the rental as income so that both mortgages be counted against me. 
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April 24 2009 - Columbia
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Profile picture for laurasellslexington
http://www.themortgagehouse.com/faqs.php?cat=17&id=99 

Its in the guidelines.

You must be buying the home as a primary residence and fit into certain criteria to do 2 FHA loans. But you may have 2 FHA insured loans at one time. You may fit this criteria.
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April 30 2009
Profile picture for laurasellslexington
Yes you can. FHA caps you at 2 home loans at one time. But you will only get .75% of rent credit.
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April 28 2009
Profile picture for RockHillRealtor
Everything has changed so much, so check with your lender to make sure, but as far as I know, you can only have 1 FHA loan at a time. 
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April 26 2009
 

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