*Using an FHA loan, can I move during the first year?*

[Zachary Kotiadis]

Upon my research of the FHA loan and the house hacking strategy, I know one of the perquisites for getting approved and not committing fraud is to live in the residence for at least a year. However, I have found trails of information on the internet and FHA-type websites indicating if you relocate due to work, that you are not bound by the 1-year rule once you begin at your new place of employment. I would love to have some clarity and steering in the right direction as to the best source for FHA loan information and caveats, as well as any tips for a 22-year-old single investor planning on house hacking for my first real estate investment. Thank you in advance to the Bigger Pockets Community.

Sincerely,

Zachary Kotiadis 

[Bryan Maddex]

When you sign almost all mortgage closing packages, you are signing an Occupancy Clause that states you are intending to live in the home for 12 months.  

As JD stated, if you knew you were going to be moving in 6 months, this would be considered Occupancy Fraud.  

The FBI is who investigates and goes after mortgage fraud. If they think your intent was to live in your home only 6 months, they may go after you.  If this job popped up out of the blue, your intent was not to move within the 1st year, so you may be ok.

If you are planning on building a portfolio of homes, it is safest to stick in your home for 12 months to reduce the appearance of potential fraud. 

If you do have to move because of a job, you would be safest (in my opinion, i am not giving legal advice or financial advice), i would sell that property to ensure that you did not just purchase with the goal of moving out early and taking advantage of lower rates and lower down payments for purchasing your home as a primary residence. 

I would protect myself and cut my losses so I was not looking over my shoulder or getting high blood pressure every time I heard a knock on the door (hoping it is not the FBI showing up to ask you some questions).