Can you get an FHA loan with another mortgage?

[Tooliebell]

We currently have a mortgage that is not an FHA mortgage.  Can we qualify for an FHA loan with another mortgage?  We are looking at a home that would be our primary  home and make our home now a rental or sell it in the future.  Wondering if having another mortgage disqualifies us from receiving a FHA loan.  The new house is so cheap we could probably put down 20% if we had to but it needs some work and I would like to consider a rehabilitation loan for it.

[cdtotten]

That shouldn't be a problem unless your ratios aren't sufficient. The payment on your current mortgage will be factored into your DTI ratios. Now, if the home is rented out and you can provide support for the rent you are receiving, that can be included as income to offset the mortgage payment.