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Updated almost 4 years ago,
FHA 203K loan Refinance
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.