Posts Tagged ‘into’

I would like info on converting my mortgage from purchase to rental
property. Is there a “fee” to do this? What would be some pros and cons to doing it? I am trying to sell, and need to move soon.

We are in the process of purchasing another home and would like to turn our current home into a rental property (we have already been approved to carry both loans). Our current loan is an FHA loan, and we have lived in the house for almost 3 years. Is it legal to do this with an FHA loan?

Also, do we have to change our homeowner’s insurance, and is it more expensive for rental properties?