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Updated almost 6 years ago,
Lender Options While Deployed
Hi, here is my situation:
I am new to real estate and looking to buy my first property. I am also military and have been given orders to deploy sometime around October 2018.
I was speaking with the bank's lenders about loan options and was presented with this option from one of the banks:
I could get a loan and purchase the house as if I were a first-time home-buyer (I am) as a primary residence, and I could then rent it out while I'm deployed (my deployment is 12-months). Even though I would purchase this house and rent it out within the typical 12-month time-frame for "home-hacking", the bank says this is fine because of my military status and deployment orders; and the bank will give me the loan at the same conditions as if this were my first-time home for a primary residence.
Has anyone had experience with this and have any advice on this situation? Also does anyone know any good property managers in the North Atlanta area?