From a home to a Investment property

3 Replies

Have a question that I'm unsure of: If My girlfriend ends up moving in after we marry someday, could she rent her house out assuming its an FHA loan that the house is financed on? I know that terms of FHA is that you have to reside in the house. But if it makes sense after I run the numbers, it may offer an option. No plans on this happening any time soon. It's a totally hypothetical.

@Spencer Herrick

The only requirement for an FHA loan is that the lendee must live in the dwelling for at least one year.

If there is a PMI on the FHA mortgage, it may be worth looking into refinancing into a conventional loan. Mortgage rates are close to all time low and you may be able to drop the PMI - depending on the LTV.

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