Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. Cancel anytime.
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
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 8 years ago on . Most recent reply

User Stats

165
Posts
78
Votes
Edward Stephens
  • Realtor and Investor
  • Leawood, KS
78
Votes |
165
Posts

HELP! How to keep a primary residence as a rental??

Edward Stephens
  • Realtor and Investor
  • Leawood, KS
Posted

BP Family...

 My father and his wife would like to move from his current home and purchase a new primary residence using a USDA loan.  After speaking with lenders, it seems they won't qualify for the USDA loan unless the loan on his current home is somehow removed from my father's name.  Ordinarily they would just sell the home and pay the mortgage off at closing, but they would like to keep the home as an investment property.  Is this possible?  I'm a Realtor, and thought I might take it over, but I don't have qualifying income.  How can we keep the home in our family as a rental?

Loading replies...