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Updated almost 11 years ago on . Most recent reply

User Stats

79
Posts
17
Votes
Erik D.
  • Investor
  • Minneapolis, MN
17
Votes |
79
Posts

Financing a rental by calling it primary residence?

Erik D.
  • Investor
  • Minneapolis, MN
Posted

I am having trouble getting a mortgage due to my debt to income ratio. I am looking to purchase my second investment property. I own my first one outright, and I can't even get a cash-out loan. Excellent credit, enough for down payment, but student loans have slaughtered my debt to income ratio.

Could I finance an investment property by claiming that my intention is to live there, and then pretend to live there for several years?

Anyone done this? Sounds like a bad idea, but I thought I'd throw it out there, see what responses I get.

Most Popular Reply

User Stats

105
Posts
21
Votes
Kim Book
  • Real Estate Investor
  • Greer, SC
21
Votes |
105
Posts
Kim Book
  • Real Estate Investor
  • Greer, SC
Replied

Erik Dwyer we always say, if you have to sneak, lie, or cheat, it's not worth it. There are always ways legit. Keep searching

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