FHA loan to purchase a investment property?

Can I use an FHA oan along with other first time home buyer offers to purchase an investment property. My wife is not on our mortgage and she would like to but some investment property with an FHA and refi in appx 2yrs. Is this possible or breaking the rules??

Ooooops two conflicting anwers soooooo here is the link:
FHA Federal Housing Administration loan programs: http://www.fha.com/
Buena Suerte

FHA is only for your personal residence - so you can do that, live there and rent your other place out, and then re-fi later.

nope, FHA is to help first time or low income homeowners to fulfill their American dream

try a conventional with no down payment
APR and many other options available on the market
at the moment

Yes. You can use FHA for investment properties, although there is a catch. You are limited to 85% Loan To Value. So, in other words, you would have to put 15% down.

Go with a conventional type loan if your credit allows for it. If not, then there are also some great non-conforming products out there that would be just as good...if not better actually.

If you would like some more information or you would like to ask me other questions personally, then feel free to contact me at timothy.kazee@americanhm.com and I would be more than happy to answer any other questions you may have. You can also check out my website for info as well at www.yourohiomtg.com.

Good luck!