Rules and regulations with FHA financing

Asked by Alexia Tsikouras, Fairmount/Art Museum, Philadelphia, PA Mon Nov 7, 2011

Is there requirement on how long you would have to live in an FHA financed duplex?

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, ,
Tue Nov 8, 2011
Yes one year, and they do check. But if you have a good reason for moving they may be ok. If your reason is not good enough ( a job transfer etc,) they will call the loan due.
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Ron Thomas, Agent, Fresno, CA
Tue Nov 8, 2011
As a rule, the Lender sets the requirements about Owner/Occupant; FHA is just insuring the loan and protecting your interests regarding Closing Costs, Preditory Lending, etc.

It could be two years. It could be different for a Duplex. Check with your Mortgage Officer.

Good luck and may God bless
0 votes
Suzanne MacD…, Agent, Succasunna, NJ
Tue Nov 8, 2011
Yes, and I believe that is one year, but best to check with your lender. They will know all the rules and regulations.
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