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Reload this Page Can I rent out my house if it is on a USDA Rural Dev Loan (finance, home loan)
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Old 11-14-2013, 07:09 PM
 
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I am needing to know if it is okay to rent out my house that is financed through a USDA Rural Development loan. I have lived in it for 18 months. Thank You. Can't find any informtion on the website and do not have access to my loan documents at this time.
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Old 11-15-2013, 12:21 AM
 
Location: Long Island, NY
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No. Under USDA rules, the home must remain your primary residence and you can not rent any portion of it.


Rural Home Loans, the USDA Home Loan Program - USDA Loans.com
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Old 02-21-2014, 01:11 PM
 
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Default You can rent it out
As long as you meet requirements stated on your loan docs you should be fine. It also may depend on guaranteed loan vs direct loan. If you are relocating for a job or outgrow home it would be reason enough to move and rent out home. If you plan on getting ANOTHER USDA loan you may have to prove it is reasonable for you to move. They just don't want you moving year to year and accumulating investment homes. This page explains it a bit but is from an agency that I am not promoting in any way: Rural Development Loan Eligibility | Additional Property
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Old 10-18-2015, 07:00 PM
 
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If I have out grown my home can I rent it out if it's a usda loan. I have inherited a home from my parents and can't seem to sell my current home
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Old 10-18-2015, 10:25 PM
 
Location: West Virginia
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I would rent the one from your parents... at least till you can sell one of them. I be selling the USDA one.
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