Using FHA loan to do a fix and flip

[Rafael Rascon]

Does an FHA loan require you to live in it for 6-12 months if your doing a fix and flip? Or is that only if you rent the property for cash flow?

[Chris Mason]

Originally posted by @Rafael Rascon:

Chris Mason So in other words is really not necessary to live in it, as longest you pay them back in full? Which obviously it will if everything goes good! Right?

 Not quite, let me be more clear: You are going to sign a promise at the closing table to move in within 60 days and occupy the place as your primary residence for 12 months.

You need to move in within 60 days. Period. 

If you sell it in less than 12 months, you're paying the mortgage off in full, so that part is moot.

But you still need to move in within 60 days, and be ready to prove it when questioned.