Renting out your home

[Beau Thompson]

What are the rules with renting out your primary residence within 12 months?

[Mike McCarthy]

@Beau Thompson most conventional mortgages including FHA and VA loans require you to plan to stay on your home for 2 years. One of the documents you probably let signed during closing stated that you were planning on using it as your primary residence.

That said, there are exceptions to the rule and if you purchased the house with the plan to live in it, but then something changes (work, moving, etc) it’s usually acceptable to the lender.