Am I stuck in my duplex for another 2 years???
So, I’ve been living in my duplex for a whole year now. When I bought the house, I used FHA 3.5% down requiring that I live in it for at least 1 year. I also completed a down payment assistance program that granted me $6,000 but required that I lived in the residence for at least 3 years otherwise I’d have to repay 1/3 of the grant. I thought it was a great idea considering it was like “free money” but now I feel like I’m ready to more properties and can do so because I have to live in this one for another 2 years!
Am I really stuck until the 3 years are up or are there other options? If so what can I do?
