Using an FHA loan for this purchase may prove impossible. Keep in mind, the condo will also need to be an FHA approved developement. If your current home is paid for, there may other options for financing available. Please feel free to contact me if you have any further questions or would like to expore your options.
As others have mentioned FHA are for owner occupied properties only. However, there may be some financing alternatives that may support your needs and can keep out of pocket expense to a low percentage. While there are specific rules governing the purchase of condos, there are options.
Since I am located in Media also, I may be able to help. I work closely with many mortgage companies and have a 20 year background in finance.
Please feel free to contact me if I can provide additional information.
Keller Williams Real Estate - Media
1400 N Providence Road
Media, Pa 19063
I believe Wells Fargo do loans for secondary/vacation homes at rates comparable to primary residences but are conventional loans - don't have to have an owned primary residence.