assuming a fha mortgage

[Kelly R.]

I am looking to purchase a house. It is $255,000. the amount the sellers owe left is assumable fha loan and is $186000 at 2.875% . I would have to come up with the rest in cash. Would I be able to rent the house out after I own it a year. I've heard different things about fha loans, and I wasn't sure is they allow you to rent it out or not and if so what time frame you need to own it before being able to rent it out? thanks for any advice on this, kelly