insurance fha
Can I rent my house if I have an FHA mortgage on it?
My house has been on the market for almost a year (OH market is very slow at the moment). I'm thinking about renting it to offset my mortgage costs, but I'm sure if there are restrictions, because I financed FHA be avoided. Besides, I have to change my home insurance?
Usually you are required to occupy the property as your principal residence for at least 1 year from when you took possession property. However, see the mortgage under section 5 (titled "Occupation, Conservation, maintenance and protection of property, loan Borrower Implementation; Leases ") to see the specific requirements for your loan. I'm going by a rule of Ohio FHA Mortgage template here, but can be a different section for you. The mortgage document also may be entitled Deed of Trust Open-End Loan Book
FHA, Part 2 | Mortgage Insurance Premiums
