Did you Know? If you want to use FHA financing on your new home, and rental income from your old home, you must move 100 miles from the other home even if the financing on your old home is conventional.
Related Article Title: FHA –100 Mile Rule – Does the 100 Mile rule apply to an FHA applicant when the home they are vacating has conventional financing? Answer: Yes, the “100-mile” rule applies to all situations regarding rental income from a retained residence. Reference: 4000.1, II, A, 4, c, xii, (I) (3) Rental Income from Other Real Estate […]