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Updated about 5 years ago on . Most recent reply

Tara Ballenger's profile image
Tara Ballenger's profile image
Tara Ballenger
  • Real Estate Agent
  • from Portland, Oregon
  • Member since Jun 8, 2015
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Tara Ballenger's profile image
Tara Ballenger's profile image
Tara Ballenger
  • Real Estate Agent
  • from Portland, Oregon
  • Member since Jun 8, 2015
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Tara Ballenger
  • Real Estate Agent
  • Portland, OR
16
Votes |
83
Posts
Private Lending & Conventional Mortgage Advice

Required equity for exiting property on FHA loan

Tara Ballenger
  • Real Estate Agent
  • Portland, OR
Posted

When purchasing using FHA, buying 100+ miles from your departing residence: do you need a certain amount of equity in that departing residence to be able to convert it to a rental and use the projected rental income to offset the mortgage debt if you already have documented landlord experience? 

Departing residence is not FHA.

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