Posted on: 08th Nov, 2010 11:24 am
We've lived in our condo for almost four years and are thinking about refinancing our current jumbo loan to an FHA 30 yr fixed rate. Would refinancing to an FHA mortgage preclude us from renting the unit out? We might need to move for change of job or just need more room in a few months.
Are there any restrictions on renting out a home that has an FHA mortgage?
Thanks
Are there any restrictions on renting out a home that has an FHA mortgage?
Thanks
Hi Klaus,
As far as I know, a homeowner must occupy the FHA home and must live in it for one year from the date of occupancy before renting it out. Thus, you won't be able to rent out the property immediately.
Thanks,
Jerry
As far as I know, a homeowner must occupy the FHA home and must live in it for one year from the date of occupancy before renting it out. Thus, you won't be able to rent out the property immediately.
Thanks,
Jerry