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Updated about 4 years ago on . Most recent reply

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Investing in 2nd property after First Home Purchase.

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I recently closed on my first property (Nov 2020) and am ambitiously looking for my second. The house is a three-plex (If that's the name) and I do not currently live there. I am ambitiously looking for my second investment but had a colleague tell me I could get in real trouble if when I apply for a second loan, the bank (loaner) finds out I never moved to my first home. My loan was accepted as a First Time Home Buyer owner occupied property. I'd love to know if you have any knowledge in this area and what I can do to protect my current and future investments. (Let me know if there's anyother background info that would be important.)

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