Home Buying in Boone>Question Details

Huntro33, Home Owner in Boone, NC

I have owned a home on a USDA loan for 3 years. Can i rent out the property now?

Asked by Huntro33, Boone, NC Tue Feb 7, 2012

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3
With most government funded loans you have to live in the home 3 out of the 5 years. Before renting or selling it. You might want to contact your mortgage provider to make sure that its ok before trying this. Good luck!
0 votes Thank Flag Link Tue Dec 4, 2012
yes you can, I called the Smithfiled local office for USDA and they said you can rent out your USDA loan as long as you have a guranteed loan and not the direct, she said the consider the guranteed just like a conventional loan, if you know what that is. My deed says as long as you occupy the house for one year and it has nothing on the deed about renting your home out.....so i called and got it directly from the horses mouth.....Hope this help but call your local office. I am in Raleigh nc
0 votes Thank Flag Link Tue Oct 30, 2012
Did u ever get a answer? I'm in the same position. I'm also in nc I have owned my home for 4 years
0 votes Thank Flag Link Sun Oct 21, 2012
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