FHA Loan - Do I have to owner occupy for a year?

[Keith N.]

Hi All,

If I got a new job ~30 miles away from my house, would I be able to stop owner-occupying my house prior to a year (say I've lived there 6 months) and either rent a place or buy a new house closer to my new office?

Just wondering, as I may soon be in this situation.  I Didn't know if it was a super hard rule, or if this would be allowed as long as a talk to my lender.  

[Mike Cumbie]

Hi @Keith N.,

Make sure you talk to your lender. As long as you have a legitimate reason they are pretty accommodating with making exceptions. Worst case they say no and you drive the extra 30 miles to work for 6 months (By the time things would close on a new property you will be close to it anyway).

* Your individual results may not be typical