Own home with FHA, Want to REFI, rent and rebuy another with FHA under Fiance

:banghead So im kicking around this idea and would like some advice from people who are knowledgeable in landlording and financing. I want to rent out my current residence and buy another in my fiances name for us to live in via FHA financing.

So, I purchased the home my fiance and I currently reside in approximately 18 months ago with FHA financing. I did a full gut and remodel on the property so everything is updated and we basically just live here without having to fix or do any upkeep.

The home has appreciated just over 20% so i am eligable for some sort of conventional financing…

What I would like some advice on what type of new financing would be best for my first property being a rental(30 year, 15 year, interest only, ect…) Any and All input would be greatly appreciated.

Is there anyone out there that is currently buying homes and living in them for a period of time, then renting it out and moving on to another?

Thankyou in advance everyone.


The term of the loan, the interest rate, payment amount and related cost's depend on your credit, income, rental market and lender.

Fixed terms are more desireable long term, term of loan depends on your needs to make it a rental as you can not have a $1500 PITI payment for 15 years if rental market income is $1200.

And you will do straight conventional financing.


thankyou GR

I always appreciate your posts!