Can I rent my home w/Wells Fargo Loan

I would be careful on this. In the mortgage, it contains language about renting out your home. I would consult with a lawyer for your area and have them advise you on this matter.

Ok.. So if you have had your loan for more than a year, you won't have any issues at all... all conforming mortgages have a clause that allows this particular scenario.. even if you've had this loan for less than a year, if you didn't know ahead of time you will be moving, you probably still won't have a problem... and pretty much in any scenario, so long as the payments are made on time, you shouldn't have a problem.. Some lenders / loan products such as USDA will actually do a drive by to see your still living in the home, so it's important you look at your deed of trust and contact the lender and inform them of your changed circumstance.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com

As long as you have owned the home for at least one year, you are free to rent the house all day long...

The previous answer has merit. But the most relevant factor is how long have you had the Wells Fargo loan. When Wells gave you that loan, it was based on the fact the home would be your primary residence. If it was a short period of time (less than a year) since you took that loan, you need to check with an atty. If it's longer than that, my professional opinion is that you would be safe. Things happen. People move. People get married. All of that is the nature of business and acceptable. The only thing that isn't acceptable in this analysis would be if you recently used the promise of owner occupancy to Wells to get a better loan with the knowledge that you wouldn't be there long. That is occupancy fraud. Best of luck to you!

Congratulations on the marriage! The previous answers all are well said. It is still good advice to speak to an attorney if you have concerns, but generally, the terms of your loan Note will state you intended to occupy the property for at least 12 months. If it's been longer than 12 months, then you should be okay. If it's less than 12 months, then the question is "what was your intent?" You should at least read back through your loan Note and see if there are any specific clauses which prevent it from being a rental, but this typically isn't a problem.

You should also check your local laws to see if you need some type of permit or certificate to rent out investment property since that is what they will turn this house into. Keep in mind that if and when you get a new mortgage for your new property and you want to use the rental income of your old one that you need to have atleast 25% equity in that house to use at least 75% of the rental income dependent upon what type of loan program you choose to go with (or qualify for ie, FHA, or Conventional). But i would still consult with your Wells Fargo Rep. Good Luck

7077182212 Anthony in Albuquerque New Mexico state.