cancel
Showing results for 
Search instead for 
Did you mean: 

USDA length of primary residency required

Valued Contributor

USDA length of primary residency required

I would like to get a USDA mortgage for a house that I may initially live in, but will ultimately end up renting out. My question is: how long would I have to personally live in it and what is the verification process like that proves that it is my primary residence; and what type of penalty do I face if I move out and decide to rent it out before the date that is the answer to my first question?



My Wallet:
WalMart: ||15k|| USAA Platinum MC: ||26k|| BCE: ||9k|| Chase Freedom Siggy: ||10k|| Discover it: ||6.5k|| SG Visa: ||11k||
USAA World MC: ||23k|| US Bank Cash+ Siggy: ||7.5k|| Citi TYP World MC: ||12k|| Barclays Arrival World MC: ||13k||Citi Double Cash World MC ||25k||Sallie Mae World MC ||18.8k||Fico Scores (3 Fico Monitoring): EQ 751,TU 749, EX 743. Last app: 9-12-14 Sallie
1 REPLY
Highlighted
Established Member

Re: USDA length of primary residency required

I've applied for a USDA guaranteed loan. I've not closed yet and not sure I will get to but the papers I was sent and had to sign and send back to my broker says that it must be my primary residence for at least a year. Hope that helps.