The listing says fully leased. Can I still buy it and move in?
Yes. You need one unit that is empty, or will be, within 60 days of closing. FHA and Fannie Mae loan rules expect you to move in by then. The other units can stay rented.
WHAT MOST PEOPLE ARE NEVER TOLD
A listing can say fully leased or investor only and still have a unit on a month-to-month lease. Where state law lets that tenancy end in time, that one unit can be enough.
A lease usually stays in force when a home is sold. The tenant stays and you become the landlord. So the question is when each lease ends.
- Empty now: you can move in.
- Month to month: it can work, if state and local law let the tenancy end in time.
- Lease ending before your 60 days are up: it can work, on the same condition.
- Every unit on a long lease: it works only if a tenant agrees to leave early.
Ask the listing agent for each lease's end date and a signed copy before you offer. If the rent is helping you qualify, the lender will want those copies anyway. FHA and Fannie Mae also expect you to live there for at least a year.
GOOD TO KNOW
Unless a unit is already empty, your move in means a tenant moves out of their home, and tenants have rights under city, state and federal law. Some of those rights can keep a tenant past your 60 days, so have a local attorney confirm the timing before you offer.
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WHERE THIS COMES FROM
- Fannie Mae Selling Guide B2-1.1-01, Occupancy Types (11/04/2026)
- HUD Handbook 4000.1, FHA Single Family Housing Policy Handbook (last revised 8/12/2026), page 159: owner occupancy
- Fannie Mae Selling Guide B3-3.8-02, Rental Income from the Subject Property (09/02/2026)
- Fannie Mae Selling Guide B2-1.5-03, Legal Requirements (06/03/2020), Rental Property Leases
- Consumer Financial Protection Bureau, Help for renters
Researched and written by Series Homes. Checked against its sources on . Lending rules change. This page is general information, not a loan offer or legal or tax advice.