I purchased my home in Maryland on October 2015 with a USDA mortgage loan. I would now like to rent my home out and move because I'm getting a new job somewhere else in Maryland. I read online in various places that you have to live in your home for three years before you can legally rent it out if your loan is USDA provided. I called my mortgage company today though and the customer service representative told me that I am allowed to rent my house out and that there are no rules regarding renting; So long as I change my insurance and continue to pay the mortgage they could care less.
- Am I legally safe to proceed with renting out my house?
- Should I get anything in writing before doing this?
- Can I trust the word of a customer service representative from my mortgage company?
- Should I contact the USDA themselves and ask them?
- Am I at risk for committing mortgage fraud?