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Updated over 4 years ago on . Most recent reply

User Stats

129
Posts
21
Votes
Patrick Q.
  • Investor
  • Jersey City
21
Votes |
129
Posts

Transitioning From My First House Hack To My Second House Hack

Patrick Q.
  • Investor
  • Jersey City
Posted

Hello All,

I am considering purchasing a home (home A) with a FHA loan to avail of all the benefits that a FHA loan has to offer and then move on to another property (home B) and do the same again with the FHA loan.

Home A would then be kept as a rental investment property but be financed still under the FHA loan.

We would purchase house B after we had been living in house A for at least a year.

We would still be living in home A when trying to buy home B.

We would also still be living in house A after we have purchased house B and were renovating house B.

In order to qualify for the FHA in Home B, home B would have to become my primary residence (I believe).

My question:

Is it permissible for my family and I to live in house A right up until we move into house B?

We would essentially be claiming that house B is our primary residence although we would actually be living in house A for a while before moving to house B.

With all the above said.

Can I do the strategy above and get FHA loans for both house A and house B?

  • Patrick Q.
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