Updated almost 8 years ago on . Most recent reply
Renting out 2 bedrooms In a 3 bed FHA Owner-occupied House
Hello,
I have an interesting question. For the state of NJ and PA are you allowed to rent out 2 bedrooms in a 3 bedroom house that you are living in/ purchased as an owner occupied household through a 203k product. When you bought this property you signed an affidavit that you would live in the house (living in the one bedroom) yet you’re renting out the other two bedrooms.
Would this be an issue for FHA? Is this technically a rental property? How should it be classified with the city?
Thank you!