Updated over 5 years ago on . Most recent reply
Transitioning From My First House Hack To My Second House Hack
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?