Mukesh Yadav, Other/Just Looking in 19341

Can i rent out my house which recetnly bought as the principal resedence?

Asked by Mukesh Yadav, 19341 Mon Oct 19, 2009

renting out the principal residence?

Help the community by answering this question:

Answers

3
Michael P Cohen 610-642-0347’s answer
You need to check your mortgage, FHA and HUD have requirements that you must live in the house for a certatin amount of time. Call you lender and make sure you can rent.
Miochael Cohen 610-642-0347
0 votes Thank Flag Link Mon Oct 19, 2009
This is dependant on the type of loan you received and if you signed a statement that you would use the home as your primary residence. Typically, all lenders have you sign this statement which means that you would need to get with the lender and ask them. If you received an FHA or VA loan, the answer will be "No". You "might" be able to get a conventional lender to allow this. Now, if you are renting out a portion of the property, then you will be ok because you will still be living there.

Hope that helps.

Terrence Charest, e-Pro
0 votes Thank Flag Link Mon Oct 19, 2009
You need to check your mortgage, FHA and HUD have requirements that you must live in the house for a certatin amount of time. Call you lender and make sure you can rent.
Miochael Cohen 610-642-0347
0 votes Thank Flag Link Mon Oct 19, 2009
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2014 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer