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Updated almost 9 years ago on . Most recent reply

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Gabriel DeSantis
  • Ronkonkoma, NY
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11
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FHA refinance question

Gabriel DeSantis
  • Ronkonkoma, NY
Posted

Hi everyone! I've been reading around this forum for 2 weeks now trying to learn as much as possible. I've come to the first potential problem I might have in getting started. I own a home in suffolk county NY which I was planning on renting out for about a year. I recently refinanced in November 2015 under a FHA loan. I know they require you to live on the property for at least 1 year. Did I just mess my plans up? I have over 20 percent down on the mortgage. Do you think the bank will work with me since I have so much equity in the house?

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