An Equal Housing Opportunity Lender
Gary Miljour
Mortgage Consultant
MyCityLender 2350 E. Germann Road, Suite 34 Chandler, AZ 85286 (Corportate Office)
Mobile: 480.251.0002
Office: 480.945.4545 AZ
Office: 949.705.4547 CA
Fax: 480.945.4546
ARIZONA MB-0910380/CALIFORNIA DRE-01889021/MyCityLender, NMLS ID: 207208/Gary Miljour Licensed Loan Originator NMLS#207208
Hello,
I have a primary residence in CA. It is an FHA loan. My family is moving to Phoenix and I’d like to buy a place there as well. At what point can I rent out the FHA home and then apply for a Homepath Mortgage in AZ and make that my primary home??
God Bless
K
Kristin,
First of all, let me give you a disclosure that I am not an attorney, so the information I am giving you is based on FHA documents signed. FHA does require that you live in the property you bought using FHA financing for a one year for sure. After that, if you apply to buy a home in AZ as a primary, you would have to use logical reasons for treating the Arizona home as your primary residence such as work transfer, etc. If you will not be be living in AZ all year, then you would need to treat the homepath loan as either a 2nd home or an investment. But if it is truly going to be your new primary residence, then you can apply using homepath as a primary loan.
I would like more info on this program
Dear Shontesha,
You left your message in the contact info? I am not sure which program you are referencing. Please give me more specifics so I can try and help.
Sincerely,
Gary Miljour