Grace Period for Owner Occupied Financing

[Spencer Davis]

Hi All - 

I'm currently in the market for a quad where I intend to owner occupy. I would like to go for FHA financing but the properties I have seen so far are fully leased. Does anybody know if there is a grace period to qualify for owner-occupied financing if property is fully leased or do you have to occupy the day of closing? 

Any advice would be much appreciated!