Updated over 9 years ago on . Most recent reply
2nd Primary house
Sorry if this has already been answered.
We are planning to buy our 2nd primary home, since my work place is almost 2 hours from my current home. Would be nice to live near my work and visit family over the weekend.
a. Can I get a FHA loan for my 2nd home? What is the criteria which I need to meet inorder to qualify (i.e. how many days I need to occupy it)?
b. What if I move my job after 6 months, can I rent out my 2nd primary house?
Cheers
Sean
Most Popular Reply
Cant answer the first, but typically theres verbiage in the loan docs that says you can't rent out that second home for a certain period of time (one year, etc). If the bank found out they could call the note due.