By you moving from the 4 units your mortgage will not be affected in any way what so ever. You need not do anything like refinance or even let your the mortgage lender know that you are moving.

If you are trying to accumulate wealth then I suggest you do this more than once or twice before purchasing your single family home.

When you attempt to purchase a single family home the mortgages will affect your ratio which is a number used by the mortgage industry to determine if you have enough money to handle the necessities of life, after the mortgage is paid.

That is the reason I suggest that you do this type transaction a few times. This time will allow your mortgage to mature and the units to appreciate.

Also by that time your rent should be able to cover the mortgage and you should have money remaining after paying the mortgage. Also you will be able to save and have money in your bank account to handle any emergencies that might come up to include 3-6 months of monthly mortgage payments.

These things will make your application for a loan package look better to a lender.

There is really no time frame set up for a person to stay in a home for any length of time to satisfy a mortgage requirement.

When you sign your loan docs for the loan there will be a document there that says you intend to make this place your permanent resident.

If you stay there only 2-3 months without a good excuse to move such as a job transfer, attending a close ill family member then there is a good chance that you intended to commit fraud.

But if you stayed there for in excess of a year and then purchased another place of residence I doubt if anyone will say anything to you at all.

Now to be very honest with you, no matter how long or short you stay there lender do not have anyone that knock on doors to see who reside there.

Also there might be a limit on the number of FHA loans you might apply and qualify for.

I hope this has been of some use to you, good luck.

“FIGHT ON”

You have to stay for one year in the owner occupied unit. If that is your intent you should have no problem at all. I can assist you with the loan if you would like and answer any questions you might have. Contact me.

hire a management company to oversee the units, since the new single home will be your primary residence, and i believe that as long as yu lived there for a year that the mortage will not be effected.

you will need to notify the lender you are making it totally investment property