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Updated over 5 years ago on .

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1
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Rebecca Beck
  • Dallas, TX
0
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1
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Primary Cash-Out Refi to Buy new Primary - How to bypass clause?

Rebecca Beck
  • Dallas, TX
Posted

Goal: Cash-out primary home to buy duplex and move into one side (as new primary home). Rent out original primary residence and other side of duplex. 

I've read that primary cash-out refinancing has a clause which says you must expect to remain in the property for at least a year. What are some things can I do/say so that a lender does not call loan due and demand immediate repayment?   *note: I'm looking to purchase a duplex a few blocks away from my primary residence. 

https://themortgagereports.com/41146/how-to-use-a-cash-out-refinance-to-buy-another-home