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35
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Blake Harris
  • Kansas City, MO
10
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35
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Regulations on FHA loans

Blake Harris
  • Kansas City, MO
Posted

I am currently attending the University of Missouri, but I plan to work and reside in Kansas City following the completion of my degree. I obviously do not want to tie myself down in with a year-long investment property (minimum before I could refinance out of the FHA into conventional) forcing me to stay in Columbia just to full fill my obligation to the FHA loan of living in the property. What I am really asking is if I buy a property in Kansas City with an FHA as my primary residence and do not rent out the unit I would theoretical be living in, would I be okay legally as my address in Columbia while finishing my degree is not a primary address, but rather just my temporary stay while studying?

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4,876
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Jaysen Medhurst
  • Rental Property Investor
  • Greenwich, CT
2,466
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4,876
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Jaysen Medhurst
  • Rental Property Investor
  • Greenwich, CT
Replied

Under most circumstances, @Blake Harris, you must take occupancy within 60 days of closing when using a FHA loan. Do you graduate in 2020 or 2021?

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