My husband and i have an fha loan and my sister needs a room to rent, is this possible and would i have to report it?

She can rent a room from you that doesn't affect your loan. When you say report it do you mean to your lender?Call me if I can answer any other questions.Adam RummelSheridan Financial949.480.1605 x 101

This America.. your free to do as you wish.. and you will not be breaking any laws by renting out a room.. IRS income laws are different.. TECHNICALLY, if you received more than $750 in a given year, you need to report that as income, and taxes would be due.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com

What do you mean by report it? You can lend a room out to your sister and it should not affect your loan.

No need to report to the lender, as you are still the primary occupants.

There is definitely no reason to have to report that your sister is renting a room from you as far as any FHA insured lenderis concerned. Now, in the future if she is still there and you refinance as a non streamline FHA loan, you might be able toinclude your share of the rent in qualifying for the loan. Should you refinance into a conventional loan you will not be able touse her rent towards qualifying for the loan. Was that helpful?

She can the rent the room from you with out you needing to report it. Renting out a room in the home that you live in should not affect you FHA loan and your current lender does not need to know about it.