FHA loan 1 year occupancy requirement and relocation
Hello biggerpockets family!
I am looking to get a duplex or small multifamily at the city I am currently employed in. My plan to buy a duplex with a 3.5% FHA loan and house hack.
My question is if find a new job in a different city and decide to move prior to being at the property for > 1 year does that violate the terms and agreement i.e Fraud.
I intended to occupy the property for at least a year. But, I do not know what the current outlook of my company may be in the coming months and want to prepare myself in case there are potential layoffs and what not. I am very conservative by nature and plan for the worst. Thank you!
Thank you!