97 3 Requirement Clarification

[Joshua Keaney]

I am considering financing the purchase of a property that I eventually want to turn into a rental with a 97 3 conventional mortgage, and I was hoping that someone could clarify one of the loans requirements for me. Does the 97 3 allow me to purchase property that will eventually become an investment property or can it only be used to finance the purchase of a permanent primary residence? I would appreciate any feedback. Please let me know if I need to clarify the question!