Am I tripping? Can't I Owner Occupy As Many Times I'd like?

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Am I tripping? Can't I Owner Occupy As Many Times I'd like?

Quandra Adams
Durham, NC · Member since 2013 · 78 posts · 14 votes

My lender seems to think differently. 

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Jason D.
Rental Property Investor · St. Petersburg, FL · Member since 2017 · 3k+ posts · 4k+ votes
8y
@Quandra Adams as long as you meet the terms of the contract, usually owner occupy for one year, you can do it over and over again. You'll have to meet additional conditions if you want to use FHA more than once, so that may be what your broker is referring to.
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  • JD MartinBusiness Member
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    Rock Star Extraordinaire · Northeast, TN · Member since 2015 · 10k+ posts · 17k+ votes
    8y

    Owner occupy what and what for what purpose - refinance, certain loan products, etc? Also, you might be tripping, and your lender might be wrong. They're two different questions. Did you take anything to trip? ;)

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  • Quandra Adams
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    Durham, NC · Member since 2013 · 78 posts · 14 votes
    8y

    House hack, @JD Martin. I just purchased a duplex that I live in via FHA. I won't to get another property in about a yr. that I will owner occupy as well.

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  • Jason D.
    Rental Property Investor · St. Petersburg, FL · Member since 2017 · 3k+ posts · 4k+ votes
    8y
    @Quandra Adams as long as you meet the terms of the contract, usually owner occupy for one year, you can do it over and over again. You'll have to meet additional conditions if you want to use FHA more than once, so that may be what your broker is referring to.
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  • JD MartinBusiness Member
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    Rock Star Extraordinaire · Northeast, TN · Member since 2015 · 10k+ posts · 17k+ votes
    8y
    Originally posted by @Quandra Adams:

    House hack, @JD Martin. I just purchased a duplex that I live in via FHA. I won't to get another property in about a yr. that I will owner occupy as well.

     Yes, then as far as I can see you appear to be sober and your lender is tripping ;)

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