Buy and hold question

[Sarah Morris]

Hi,

I was told I have to live in the property I just purchased for a year until I can  rent it out, as that is what the loan contract states.  Has anyone heard of this?  Does anyone know how I can get out of this loop whole?  Do you know the consequences for renting out the entire property out sooner then a year? I plan on getting a roommate once I move in to help with the mortgage. 

I purchased a home in del paso heights for 169900 at 3.5% interest for thirty years. Payment will be 1100 a month.  This was going to be my first buy and hold property. I decided not to say I was buying it for investment purposes to avoid having to put down 20% to purchase the home. 

Any input is appreciated~