Forgotten Your Password?

Need to Register?

Question Icon

Can i lease my house if ive refinanced my house before?

by wildsage1981690 from Claypool, Arizona. May 21st 2014 Reply


Joe Metzler (JoeMetzler)
#1 ranked lender in Minnesota - 3,944 contributions

When you get a "owner occupied" mortgage loan... Generally speaking, as long as you've liven in the home at least one year after the loan closing, after that, you are free to rent it without a violating your mortgage loan. You would have to read your actual mortgage note, but I've never seen one less than one year. www.Mortgage-Duluth.com

May 22nd 2014
1
0
Mitch Stam (MitchStam)
#121 ranked lender in Arizona - 4 contributions

Good afternoon and thank you for using Lender 411. Most lenders include occupancy restrictions when you purchase or refinance. Usually 60-90 days. How long ago did you refinance and which type of loan did you select? Fixed rate, variable, cash out? Rental income used for qualifying has changed. Did you or are you planning on buying another home? Feel free to contact me direct at dquintero@desertspringsfinancial.comThank you

May 21st 2014
0
0
Michelle Curtis Loan Originator NMLS 401173 (EmbassyFundingLLC)
#77 ranked lender in Florida - 2,240 contributions

Yes you can.

May 21st 2014
0
0
Jarrod McOmie (Jarrod)
#13 ranked lender in Utah - 120 contributions

Generally this should not be a problem.

May 21st 2014
0
0
Mike Silkworth (msilkw_195_870)
#30 ranked lender in Michigan - 527 contributions

Most mortgage loans have restrictions on this and require you to get approval or at least inform them of this change. Find your Mortgage and Note from when you refinanced and read it - it's not so complicated that the average person can't understand.

May 22nd 2014
0
0
Subscribe to our news feed.