I hate seasoning unless it’s on my food

[Remone R.]

So we are refinancing our owner occupied 4 unit from fha to conventional w/cashout. Now our plan is to purchase a second property and house hack that as well but we’re being told we have to wait for our refi to ‘Season’ before we buy another property as owner occupied. We see a few properties that come on the market and we want to make an offer but our lender insist that we wait awhile after our refi. His reasoning is if we refi as owner occupied then purchase #2 as owner occupied the lender may see that and deny the loan. Is this true or just dependent on the lender?

[Jonathan Taylor Smith]

Most loans issued to owner occupants have the assumption (if not outright requirement) that you are going to live in the property for at least 1 year. This would certainly be true of any loan that is backed by / sold to the FHA. I do not see why you'd have to wait to refi your existing property, but purchasing another as owner occupant would likely be problematic unless you have some valid exception / circumstance as to why you cannot remain in the existing home for the required year.