Can you use a MassHousing Loan to finance a rental property?

[Kyle Marsh]

Can you use a MassHousing loan to finance a rental property for a single family home? The Masshousing loans in Massachusetts seem to have some great benefits for first time homebuyers but has anyone used one to finance a rental property? If so, is there any restriction on how long you need to live in the property before renting it out? For example with an FHA loan you need to occupy the residence for at least one year before you can rent it out. I looked all over the website but I didn't see anything.

[Kyle Marsh]

Originally posted by @Blue Rybo-LoPresti:

@Kyle Marsh

From what I've read you must live in the property, and refinance out if you decide to move. I'm currently looking to use MassHousing to help finance a house hack. They offer loans on duplexes and triplexes as well.

If you are interested in a single family home, you could probably finance one with MassHousing, live in one bedroom and rent the others out. Then when you decide to move, refinance to a traditional loan and keep it as a rental property.

What market in MA are you looking to buy in? I'd love to connect and share insights.

 Thank you yeah that seems like the best way to use it. I'm in the process of deciding whether I want to invest in Amherst (where I go to school) or possibly in the Brockton/Attleboro/Taunton markets (I'm from Easton).