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Updated over 4 years ago,
FHA 203k Loan Primary Residence rules during rehab
I understand the FHA 203k allows one to buy a Primary residence with a low downpayment and wraps the rehab costs into the loan. My question is what are the rules regarding the timeline to begin living in the home after the rehab?
I am in a year long lease that'll end in July of next year and would still love to be able to take advantage of this loan. Would it be possible to purchase a home in say April of next year and because of the rehab not move in until July?
Thanks in advance!