Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 54%
$32.50 /mo
$390 billed annualy
MONTHLY
$69 /mo
billed monthly
7 day free trial. Cancel anytime
×
Take Your Forum Experience
to the Next Level
Create a free account and join over 3 million investors sharing
their journeys and helping each other succeed.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
Already a member?  Login here
Buying & Selling Real Estate
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated about 3 years ago on . Most recent reply

User Stats

202
Posts
38
Votes
Ellie Narie
  • Investor
  • Ashland, OR
38
Votes |
202
Posts

How do you "define" primary residence for FHA purposes?

Ellie Narie
  • Investor
  • Ashland, OR
Posted

Could you live in an FHA property for 6 months and 1 day and still have it count as your primary residence? As in, spend 6 months and 1 day sleeping at the property, and the other time of the year not sleeping there, but you'd still have your taxes/utility bills/everything going to that property and being in your name, and it wouldn't be rented out.

Also, what happens if you travel a lot and are out of the country for a few months per year (consecutive)? Do those months count as "living at the FHA property"?

Another question: If the property appraises for 25% more than the purchase price, and you plan to refinance it after 6 months into an "investment" property, is this still okay or is it "bad" because you'd already be planning to refinance it before your one year of residency is over? 

Most Popular Reply

User Stats

338
Posts
218
Votes
Tom Wagner
  • Real Estate Agent
  • Minneapolis
218
Votes |
338
Posts
Tom Wagner
  • Real Estate Agent
  • Minneapolis
Replied
The answer can be found in the governing document for the FHA loan program: HUD 4000.1
https://www.hud.gov/sites/dfil...

See page 157 for the exact definition.

Loading replies...