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Updated about 4 years ago on . Most recent reply

User Stats

42
Posts
3
Votes
Dominique Mitchell
  • Rental Property Investor
  • Hutchinson, MN
3
Votes |
42
Posts

FHA 203K loan Refinance

Dominique Mitchell
  • Rental Property Investor
  • Hutchinson, MN
Posted

Hello Bigger Pockets family. I am a new investor and I have a question about refinancing out of a 203k loan. 

I am looking to acquire a single family property and make it a rental. If I go with the FHA 203k loan,I know this will have to become my legal residence. If I do the BRRRR method on this home, can I refinance out of the 203k into a normal loan and rent the property? Or would I be violating any rules?

Would I have to live in the property for a year before refinancing?

Can I refinance after the rehab is complete?

Thank you in advance. 

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