owner occupied requirements for usda mortgage?
can a usda home be owner occupied for a year and then be rented out? would that count as an investment property or be breaking regulation by kerns_olmstead756363 from Issaquah, Washington. Jun 18th 2014
William J Acres (William_Acres)
#74 ranked lender in Arizona - 8,728 contributions
The guidelines for USDA state you have to be purchasing a "Primary Residence" and you have to live there for at least 12 months.. once you pass the 12 month mark, you can rent it out if you wish and there's nothing USDA can do.. 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. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com
Sean Young (SeanYoung)
#1 ranked lender in Colorado - 1,112 contributions
When you purchase a USDA home it always has to be as a primary residence, but after a year is up you can choose to rent it out as you see fit. Best wishes, Sean
Ask our community a question.
Get an answer
Related Questions
