Property Q&A in 20110>Question Details

Ashleyj703, Home Buyer in 20110

I currently own a home which I bought in July 2009 with an FHA loan. I want to use this home as an investment/rental property in the next few months.

Asked by Ashleyj703, 20110 Thu Sep 17, 2009

It is my understanding that I cannot rent a home while it is under and FHA loan. Thus, my question is, 1) what kind of loan do I need to refinance my current property to in order to rent it, and (2) If I put 3% down when I initially bought it under FHA, what amount/percentage would I need to put in up front to refinance?

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