I currently have an FHA loan. My home is for sale. I found another home I like but cannot purchase it until my home sells. You cannot have 2 FHA loans at the same time. However, I was told I could potentially switch my FHA to a conventional loan. My closing costs would be less than $4K which is doable. Do you have experience in something like this? I am also thinking instead of selling my home I could then rent it out and bring in a steady monthly income.
Read more: Have you ever switched from am FHA to a conventional loan?
