You need to satisfy all of the following conditions not just one:

Increase in family size

A Borrower may be eligible for another house with an FHA-insured Mortgage if the Borrower provides satisfactory evidence that:

the Borrower has had an increase in legal dependents and the Property now fails to meet family needs; and
the Loan-to-Value (LTV) ratio on the current Principal Residence is equal to or less than 75% or is paid down to that amount, based on the outstanding Mortgage balance and a current residential appraisal.

Original question:

What are the guidelines to having to FHA loans at the same time. To my understanding you would have to:

1. prove you have out grown the home

2. the new property be a certain distance from the old one

3. have 25% equity in the property being retained.

Are these correct and would you only need to satisfy 1 condition?