Can I Rent Out A House I Bought FHA? FHA House Hacking

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FHA House Hacking Tips for FHA rentals. If you bought a house with an FHA loan you can rent it out, but with restrictions.
Some general FHA rental rules are that you must occupy the house within 60 days of purchase. Also you have to live in the house for the 1st year. After that you can usually rent it out completely. You can rent out a room in a house you bought with an FHA loan, but you can only do rentals of at least 30 days.
For multiple unit properties bought with an FHA loan you have to live in one of the units and can use the rental income to qualify for a portion of the FHA loan qualifications. You can't Airbnb a rental that you bought FHA.
Follow us for more FHA house hacking tips!

Опубликовано:

12 сен 2024

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Комментарии : 30

@JamesVang 10 месяцев назад

Old dude would not stop interrupting her LOL he should've just did the video by himself if he was so excited lmao

@WokeConsciousness 5 месяцев назад

Only in the beginning. He gradually improved and was actually very informative.

@chukwuka419 Год назад

A lot of people didn’t mention the details of a FHA like the way you guys did. This is an excellent video. Thank goodness I clicked on this video before purchasing a rental property.

@MrVirus9898 Год назад

You can be like the dude who lives down the street and just, not tell the bank your renting the place. Worked for him.

@davidg5965 21 день назад

Yeah 🤣 just keep the bills to your name

@beninformato9040 Год назад

I have a question about your first scenario. Let's say the employer needs you to move to be in the office but you work a deal with the employer whereby they allow you to work remotely for part of the time for the first year? How many days per year does FHA consider full time owner occupied? I believe for insurance purposes it's 51% of the time.

@joyannalancaster9694 10 месяцев назад

Jeeeesus... Let her speak!

@FeDx318 18 дней назад

😂

@CG-uk1vz Год назад

With this strategy, you can essentially buy a home every 3 years with FHA, live in it 2 years, and sell without paying capital gains tax. It's the ultimate come-up.

@Royalred616 4 месяца назад

I just thought about this! I work as a commercial fisherman and I want to put money down every year for the next 3 yrs..rent it out while I’m working in AK.Sounds good as hell

@utah2191 Год назад

I have an FHA loan for 6 years and the lender is telling me I cannot rent it. I have to live there for the life of a loan.😢😢😢

@TalkAboutHouses Год назад

According the the FHA website you have to live in the house a year and then you can rent it out. I'd get a second opinion on what they told you.

@arianejackson4349 4 месяца назад

Not true

@samuelcolon7380 Год назад

Is there a video regarding renting a primary home I bought with a conventional ?

@devonscope6222 7 месяцев назад

What about duplexes and such

@sarahhunterhunter4544 Год назад

I lived in my fha loan for a yr now. My loan officer said i had to sell my home to get another fha loan on bigger home because im not moving 100 miles away

@NewZackCityLive 5 месяцев назад

How much is your mortgage and how old are you? If you don’t mind, just asking for perspective example

@amandalee714 11 месяцев назад

How in the heck do you find a 4 unit living unit for sale on a basic salary

@TalkAboutHouses 11 месяцев назад

today you don't. They are basically GONE. A lot of people figured out this creative way to buy.

@Royalred616 4 месяца назад

@amandalee714 come work in Alaska!

@JoseMedina-fs6fw Год назад

What about Fannie Mae loans. Do the same principles apply? I bought a house about a year ago using FNMA loan.

@TalkAboutHouses Год назад

Ask your lender, but generally only FHA and VA have rental restrictions. Sometimes your owner occupant loan has a time restriction but you can ask if they will waive it. Most lenders don't even check to see if you actually moved in after you buy.

@josecalderon723 Год назад

please help me, about a single family home, if I can I live in the basement or occupy only one room and rent the rest? would that income still count?

@adriaetr94 Год назад

What can I do after a years of living in the property?

@tedbear6012 Год назад

I travel for work . Im gone for 2 to 3 weeks at a time. Can i short term rent my home while im on the road?

@Emanuelethio 8 месяцев назад

hello, I want to rent out a bedroom in my FHA home. Is there a way to protect myself legally as a rental property? is it possibe to put the house under a LLC?

@dmitriymelnikov7301 2 дня назад

FHA is REQUIRED to be personal

@georgestewart1042 Год назад

This initially worried me because we did a cash out on our primary to purchase our last rental, but I think we are good as we still live in our primary. Turbo tax let's us write off the interest on our primary, and take the standard deduction. Do you see any problems with this?

@TalkAboutHouses Год назад

That’s a tax accountant question.