Can I buy a home with an FHA mortgage and rent out the spare rooms?

Question:

I’m currently saving up for a down payment to buy my first home in a college town, and I was wondering if I buy the home with an FHA mortgage, are there any restrictions on me renting out the spare rooms in the house?

Answer:

What a great idea. No, there’s no restrictions. As long as you plan to occupy the home yourself, you’re free to rent out any extra bedrooms, the couch, whatever you want.

PS Check out our simple eval process where you can choose whether you want to: get real rates specific for your scenario (beware of teaser rates!), see how much home you can afford, get pre-approved, or quickly submit your contact info so we can get back in touch.