u/DisastrousDebt1088

Rental Offset-100 mile rule

My Husband and I are currently renting our home, which is not FHA. We are planning to get a mortgage to purchase a new property while keeping the current residence as a rental. We are seeking a FHA loan for the new property and it will not be within 100 miles of our current home. I'm getting conflicting information about the 100 mile rule. Some are telling me as long as the current mortgage isn't FHA, they can offset because the ultimate goal regarding the rule is to prevent two FHA loans at the same time. What is true for our situation?

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u/DisastrousDebt1088 — 5 days ago