Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
General Landlording & Rental Properties
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 5 years ago,

User Stats

1
Posts
0
Votes
James Delk
0
Votes |
1
Posts

HELP! FHA refinance how long until can purchase another FHA home?

James Delk
Posted

Hey I currently live in a home (in california) that I was thinking about doing a Cash out Refinance on. And use that as downpayment on a Duplex. I want to MOVE INTO the duplex and rent out the original house plus one of the duplex units. If I do a FHA cash-out refi (on the original property) - is it true that i have to wait 12 months before i can purchase / move into a new property with a new FHA loan? I realize i have to make the original property a rental (non-owner occupied property). Wells Fargo said that I can send in a letter to the underwriter saying that my living situations have changed and they had customers that have done it within a couple months. But i talk to other banks and they said at least 10 -12 months. Does anyone have any specific information? I don't want to get stuck trying to purchase a duplex with a massive down payment.

Thanks you guys

Loading replies...