FHA loan 1 year occupancy requirement
Hello biggerpockets family!
I am looking to get a duplex or small multifamily at the city I am currently employed in. My plan to buy a duplex with a 3.5% FHA loan and house hack.
My question is if find a new job in a different city and decide to move prior to being at the property for > 1 year does that violate the terms and agreement i.e Fraud.
I intended to occupy the property for at least a year. But, I do not know what the current outlook of my company may be in the coming months and want to prepare myself in case there are potential layoffs and what not. Thank you!
Thank you!