Updated over 4 years ago on . Most recent reply
Real Estate Owner Occupied Purchase
I'm in a little bit of a dilemma. Currently I'm looking to purchase a duplex using owner-occupied financing (FHA 3.5% or conventional 5%). However, both sides of the duplex have leases that go until May of 2022 and it the date is currently (11-12-21). If I wanted to purchase this home to and live in it because I'm using an owner-occupied loan, how would I go about doing so?
The one side, I would like to live in and the other side I would like to rent out. Is this feasible with the current situation at hand or is there really no option with the current tenants having a lease through May of 2022?