x
We research, you save.
Bookmark

I'm going to buy a house by FHA loan, the problem is that the seller is asking for 5 months lease back. Is it possible to do so and lease the house back to seller for 5 months after closing?

By ghasemkhani64947 from CA Sep 17th 2014
Reply

Hello,FHA requires that you move into the home within 60 days after the close of escrow. The seller could only lease back to you for two months and not five. Call me if you have more questions or concerns. Jennifer Wilson 951 264-1003

Sep 17th 2014

That is not acceptable.. FHA requires you take possession within 60 days of closing.. This is not something that FHA is flexible on, so you cannot agree to 5 months.. 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

Sep 17th 2014

As already stated 60 days is the max.

Sep 17th 2014

As William, Jericho, and Jennifer have stated you have to move into the homewithin 60 days.

Sep 17th 2014

Not officially. FHA rules require you occupy the home within 60-days of closing. Lending in MN, WI, and SD - www.SaintPaulMortgageBroker.com

Sep 17th 2014

Didn't find the answer you wanted? Ask one of your own.

Get an answer


Compare Lowest Mortgage Rates

$