what's FHA loan program? my gf got bought a home last fall with home owner occupied . now she wants to move in with me and rent her place out.

Asked by andrewkt5155, Bellevue, WA Wed May 2, 2012

Is she going to get trouble if lender found out she rent out her place? Thank you

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4
Jirius Isaac, Agent, Kenmore, WA
Mon May 7, 2012
It should be ok. Good luck with your new GF!
0 votes
John Manuwal, Agent, Bellevue, WA
Wed May 2, 2012
I would look at what the loan papers say. But like the others have said. It was the intent that usually matters. If she was living there a year then you are better off but things change and banks know this. Just keep record of her living there to prove she did live there.
0 votes
Gregorio Den…, , San Diego, CA
Wed May 2, 2012
As long as her original intent was to occupy as her primary residence she will be fine. It's understood that situations do change. If there was no fraud involved there should be no issue.
0 votes
, ,
Wed May 2, 2012
Probably not, nothing is absolute. The mortgage she signed said she was going to live in the house for at least one year. If she moves out and rents it before the year is up she technically is not living up to her promise to FHA, but as long as she makes the payments on time I doubt anyone will kick up a fuss.

Jim Simms
NMLS # 6395
JSimms@cmcloans.com
Financing Kentucky One Home at a Time
0 votes
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