Buying & Selling Real Estate
Market News & Data
General Info
Real Estate Strategies
Short-Term & Vacation Rental Discussions
presented by
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Creative Real Estate Financing
presented by
Tax, SDIRAs & Cost Segregation
presented by
1031 Exchanges
presented by
Real Estate Classifieds
Reviews & Feedback
Updated over 3 years ago on . Most recent reply
Real Estate Owner Occupied Purchase
I'm in a little bit of a dilemma. Currently I'm looking to purchase a duplex using owner-occupied financing (FHA 3.5% or conventional 5%). However, both sides of the duplex have leases that go until May of 2022 and it the date is currently (11-12-21). If I wanted to purchase this home to and live in it because I'm using an owner-occupied loan, how would I go about doing so?
The one side, I would like to live in and the other side I would like to rent out. Is this feasible with the current situation at hand or is there really no option with the current tenants having a lease through May of 2022?