Home Buying in 79912>Question Details

ewcs359, Home Owner in El Paso, TX

Can I Rent a house that has been refinanced? it is an FHA loan

Asked by ewcs359, El Paso, TX Tue Jun 11, 2013

Help the community by answering this question:


IT depends on how long you have occupied the property since the Refi. Typically your Refi loan requires you live in the house for 2 years. However there are exceptions to every rule , for example if you are relocating for a job, military transfers etc. You can contact FHA directly at Email: answers@hud.gov
Good luck!
0 votes Thank Flag Link Wed Jun 11, 2014
FHA is usually for owner occupied homes, you should read your mortgage papers to what it specifies, allows and does not allow
0 votes Thank Flag Link Tue Jun 11, 2013
Did your refi say you're the occupant? Your mortgage papers should have a clear answer.
0 votes Thank Flag Link Tue Jun 11, 2013
You might have a problem; a big problem:
Read your Loan Papers; there may be a Clause that requires you to be the Owner/Occupant, probably for 2 or 3 years, or that requires you to request permission from your Lender.
The Banks are serious about this, and the consequences can be severe.
0 votes Thank Flag Link Tue Jun 11, 2013
The financing has nothing to do with you renting the home. Just about any home you will end up renting will have some sort of financing.

Don Groff | REALTOR® & Mortgage Broker
Austin Real Estate Pros & 360 Lending Group
o 512.669.5599 | m 512.633.4157 | listings@dongroff.com
websites: http://www.AustinListed.com | http://www.360LendingGroup.com
Web Reference: http://www.AustinListed.com
0 votes Thank Flag Link Tue Jun 11, 2013
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