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Updated over 6 years ago on . Most recent reply

User Stats

41
Posts
15
Votes
Jon Dang
  • Investor
  • Houston, TX
15
Votes |
41
Posts

FHA loan 1 year occupancy requirement and relocation

Jon Dang
  • Investor
  • Houston, TX
Posted

Hello biggerpockets family!

I am looking to get a duplex or small multifamily at the city I am currently employed in. My plan to buy a duplex with a 3.5% FHA loan and house hack.

My question is if find a new job in a different city and decide to move prior to being at the property for > 1 year does that violate the terms and agreement i.e Fraud.

I intended to occupy the property for at least a year. But, I do not know what the current outlook of my company may be in the coming months and want to prepare myself in case there are potential layoffs and what not.  I am very conservative by nature and plan for the worst. Thank you!

Thank you!

Most Popular Reply

User Stats

41
Posts
15
Votes
Jon Dang
  • Investor
  • Houston, TX
15
Votes |
41
Posts
Jon Dang
  • Investor
  • Houston, TX
Replied

@Christopher Phillips got it! thank you for your feedback. I am not participating in any sort of special grant. Just trying to set myself up for success regardless of what may happen on the future. Thank you!

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