Can you move with an FHA?

[Kyle Spinale]

At the moment I do not have any mortgages at all. I had a few questions about FHA loans because they seem appealing for beginner investors.

When someone gets an FHA loan, are they allowed to move out of the residence after a certain period of time?

And if someone moves with an FHA loan, can they keep that loan for the existing property or do they need to get a new one?

I wanted to know this because if I were to get one and then house hack for a year or so, could I move onto another property and do the same thing?

[Mindy Jensen]

@Kyle Spinale, yes sir. Just make sure you hit the 365 day mark before you do, then you're free to do what you want with the property. You don't have to refinance it. It's a nice way to get owner-occupant rates for investment properties - as long as you don't mind moving every year or so.

I flipped houses by living in the during the construction. Tax-free profit up to $500,000 because I'm married. But I had to live in them for two years - even one day early and I owed taxes on the whole profit. So I made sure I didn't move one day before.