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Private Lending & Conventional Mortgage Advice

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Matthew Maggy
  • Rental Property Investor
  • Richmond, VA
24
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128
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FHA Loan On Property that already has leases

Matthew Maggy
  • Rental Property Investor
  • Richmond, VA
Posted May 22 2015, 06:34

My girlfriend and I are going to use an FHA first-time home buyer loan to purchase a duplex. My question is that if you need to live in an FHA loaned property, but it's already tented with leases through the next year, can one still purchase this property w/ FHA first-time home buyer financing? Does this nullify a lease or what? I don't want to kick somebody out who is paying their rent.

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