1st Investment: FHA and House Hacking for Connecticut Newbies

[Christopher Reid]

Hello Folks,

This is my second post since my forums intro (promises no to prelude every time with a 3rd, 4th, etc). We are looking to purchase our first home/investment with a duplex or greater using FHA loan to start out small on the cash down side of things. How long are we required to inhabit the property in order to uphold the terms of the loan before renting out our side or selling and moving on?

Thanks in advance

--Chris

[Charles Wiegert]

The general consensus from my understanding is a years time. 

However that is an important question you should ask your mortgage provider/underwriter what their policies are, in addition to the obvious interest rate, etc. It could be different between different agencies.