When there are two or more borrowers but one or more will not live in the property. The exception is if the FHA loan has a loan-to-value higher than 75 percent; only one of these loans may be.
Although processed as Section 203(b) loans, the applicable ADP codes. mortgages to investors, FHA generally will not insure more than one.
HUD allows two FHA loans at the same time under certain circumstances. How to qualify for multiple FHA loans.