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Updated over 4 years ago,

User Stats

10
Posts
3
Votes
Devin Collins
  • Jacksonville, FL
3
Votes |
10
Posts

FHA 203k Loan Primary Residence rules during rehab

Devin Collins
  • Jacksonville, FL
Posted

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!

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