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Updated over 7 years ago,

User Stats

42
Posts
29
Votes
Ashley Cote
  • Software Developer
  • Mobile, AL
29
Votes |
42
Posts

FHA and Primary Residence

Ashley Cote
  • Software Developer
  • Mobile, AL
Posted

I am currently wanting to buy either a multifamily property or single family and live in one unit, rent out the rest. 

I am also locked into a lease (12 months from now - just started it). If I were to buy a property and use an FHA loan, by stating that I will use the property as my primary residence, does this have a reasonable expectation that it will become my permanent residence promptly after purchase? Would my best route be to just wait until I am out of the lease, or is there a way to swing buying a home with the FHA while residing in a different place for a few months after purchase?

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