All Forum Posts by: Tyler Cook

@Nathan Gesner I bought the house in March of this year and standard FHA terms say you cannot rent a primary residence within the first 12 months. But I see your larger point

Quote from @Caleb Brown:

What type of loan do you have and how long have you been in the home? 

I have an FHA loan and closed in March of this year. I believe I need to be here 12 months before renting but have heard stories of people successfully negotiating new terms with their lender based on need, primarily. Any thoughts?

Hey all, I should have clarified: I closed on the home in March 2022 under a FHA loan at 5% down, so I believe I need to be in the home for 12 months before converting to a rental under the mortgage agreement (although I couldn't find this language in the loan docs). From what I understand, it is possible to approach your lender and have adjustments made but I have not spoken with anyone who has actually done this successfully. Appreciate the feedback as always

Has anyone approached their lender to ask if they could rent out their Primary Residence? What is the best way to approach/frame the conversation with your lender so that they will allow it? If I say I need the rental income to pay my bills, is this the best approach? Thanks!

Look forward to meeting new people and making some friends. See you there!

Is there somewhere we can see a list of attendees? Sorry, new to this!