Posted by Dave T on June 08, 2009 at 08:41:23:
In Reply to: How Soon Can Someone Go From Owner Occ'... posted by IB (NJ) on June 07, 2009 at 08:37:05:
You can convert to rental the very next day without any repercussion if you have a life changing event that dictates you move out of the property. For example, you are transferred out of state and have to move, your wife is pregnant with multiples and your house is suddenly too small for your new family size, or maybe you have a health condition that dictates you move to a healthier climate or into a long term care facility.
Barring any of these life changing events, one year of owner occupancy is sufficient to satisfy the owner occupancy certification you signed when you obtained the FHA loan.