How do I get an FHA Loan if I already have one ?

[Nli810dBeauty]

I have an FHA loan for a home I moved out of a year ago. I moved out of it and have been renting it out for the last year. I didn't have any family growth (I'm engaged now but the loan will only be under my name). I just started a job that's 10 miles away from the proposed home and about 27 miles from the old home. I have two other rental properties but I SWEAR this home I want for myself, not for investment! Do I have a chance or should I just focus on getting a Conventional Loan? I'm in Dallas, TX by the way.

[violetsmom]

We have an FHA loan on our existing home. We are going to rent it out an buy another. We were not able to take out another FHA loan unless our existing home had at least 20% equity (which it does not, hence renting it out). I think the only other way you can have more than one FHA loan is if you can prove your family has grown beyond what existing home can accommodate or you are relocating like 100 miles away at least. Just my experience

[Nli810dBeauty]

Thanks, I definitely don't have 20% equity yet. I guess I'll just go with a conventional loan.