Best answer


Many lenders will allow you to rent out the house while you still have an outstanding mortgage balance,but not all of them. Take the time to read the details of your mortgage agreement. If you have questions,reach out to your mortgage lender to uncover the rules. You don want to violate the terms of your mortgage agreement.

People also ask


  • Can I rent out my home to pay my mortgage costs?

  • Or, you’re having a tough time covering all your expenses and want to explore renting out your home and using that income to pay your mortgage costs. All are situations that can be relieved if you put your home on the rental market. But will your mortgage lender allow you to do so?

  • Can you rent out your house with an FHA loan?

  • For example, owner-occupants purchasing their homes with FHA-insured mortgages are expected to occupy them, not rent them out. Fannie Mae and Freddie Mac also prohibit their residential mortgage borrowers from renting out their homes during their first year of occupancy.

  • Can you rent out your house with an owner occupied mortgage?

  • If you have an owner-occupant mortgage and decide you want to rent out your home, it may be an option. You檒l need to contact your mortgage lender to discuss the situation. Some mortgage lenders will permit you to rent out your home with your existing rate and terms.

  • Can you lease a house with a mortgage on it?

  • Deciding to Lease. If you’re thinking of leasing out your home and you have a mortgage on it, check your mortgage documents and with your mortgage lender first. Many mortgage lenders giving loans to hopeful homebuyers structure them as residential mortgages, not investment or rental property mortgages.