Can a borrower have more than one FHA loan?
Yes, under the following circumstances: The existing FHA loan must be on the current primary residence, the new property must be the borrower’s new primary, the loan-to-value ratio on the existing loan must be 75% or less (you may need a drive by appraisal), the borrower is moving to a larger home due to an increase in family size, the borrower is being relocated for work or if the borrower co-signed for someone else and they were listed as a non-occupying co-borrower.
