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can we convert an fha loan to investment property?

by kitclammer738 from Mesa, Arizona. Oct 21st 2014 Reply


Hans Bruhner (hans@asktheloanman.com)
#171 ranked lender in California - 18 contributions

FHA loans need to be a primary residence when you get the loan. As with all owner occupied loans, you agree to live in the home for a year and after that, it is no problem. If you have special circumstances before a year then you would simply communicate that to your lender and let them know and you should be OK there too. The bottom line is if a decent chunk of time has passed then you should be OK.

Oct 21st 2014
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William J Acres (William_Acres)
#1 ranked lender in Arizona - 8,041 contributions

Yes.. but only after the first year.. there are exceptions for less than 12 months, but the list is to extensive to post here.. Feel free to call me if you have any questions,, I'm here in AZ.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com

Oct 21st 2014
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Phil Dumouchel (PhilDu)
#1 ranked lender in South Carolina - 2,228 contributions

Just be careful how soon you start renting the house after you close. (Same cautions as other comments posted.)

Oct 21st 2014
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Dave Metsker (DaveMetsker)
#38 ranked lender in Oregon - 2,317 contributions

Wait at least one year.

Oct 21st 2014
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Jericho Cherry (Jerichocherry)
#58 ranked lender in Virginia - 1,107 contributions

After one year my friend.

Oct 21st 2014
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