Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. Cancel anytime.
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Buying & Selling Real Estate
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 7 years ago on . Most recent reply

User Stats

74
Posts
8
Votes
Brendan L.
  • Boston, MA
8
Votes |
74
Posts

Owner occupancy requirement only to move in within 60 days

Brendan L.
  • Boston, MA
Posted

A conventional mortgage owner occupancy clause only states that they must intend to move in within 60 days. There is no written minimum length of time they must stay. If they move in, but their dream home comes on the market and they only stay in the first home for a couple months, is there trouble to get into or snags in the second lending process if they go for an FHA loan on that second single family if they decide to rent the first one out? Do they need a "good" reason or or is it really not worried about because the terms of the first mortgage are met as written?

Loading replies...