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Costel Atanasiu
a year ago
I am starting investing in properties I intend to flip and/or rent out. I already have a primary residence, a conforming loan. Can I use a FHA loan to buy a second home for business?
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Best Expert Answer
Joe Wallace
a year ago
The home you purchase with an FHA mortgage will have an occupancy requirement as a condition of loan approval. You'll be required to occupy the property purchased with an FHA lan as your primary residence generally within 60 days of closing the FHA loan.
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Best Expert
Barbara Rorwick
a year ago
What is considered the definition of a primary residence versus a secondary residence? Is it based on occupancy more than 6 months or more in a year?
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