Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Private Lending & Conventional Mortgage Advice
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated almost 3 years ago,

Account Closed
  • Rental Property Investor
  • Norfolk, VA
1
Votes |
10
Posts

Owner occupant lending?

Account Closed
  • Rental Property Investor
  • Norfolk, VA
Posted

Hello all,

I purchased a duplex in October last year using an FHA loan. I want to move out but I understand FHA loans have a one year owner occupancy requirement.

I was wondering if it would be possible to qualify for a owner occupant homestyle renovation loan, buy another property, and have the renovation happen now. I would like to time purchase and rehab such that the renovation is complete and I can "legally?" move in at the one year mark. Not sure if having an FHA loan would automatically disqualify me for another owner occupant mortgage within 1 year 🤔.

Any thoughts on if this strategy is plausible? Thanks!

Loading replies...