Owner Occupancy & Extenuating Circumstances

[Zachary R.]

Hey everyone,

I recently purchased a SFH under a conventional 30 year loan at 10% down and 4.5%. A couple things have changed since I purchased it, mainly a separation from my spouse, and we no longer occupy the property.  I'm now in a position where it makes much more sense for me to purchase another property for myself rather than pay monthly rent, while I have time to take on a house hack until we determine our future.

My question is, and although my lender assures me that my W2 income (tech sales) justifies abilities to secure a large amount of financing, how have you guys approached getting a second loan without breaching the occupancy terms within the original loan.  Ex. below:

"Borrower shall occupy the residence within 60 days and occupy the property as principal residence for at least one year after the occupancy, unless lender otherwise agrees in writing or unless extenuating circumstances exist which are beyond borrower's control."

I am in a place right now where I have cash for 5-10% down on the next home with no problems and zero debt outside of a car note, 800+ credit score. Also, note that the home we purchased to live in together is cashflowing so that debt to income is not a concern on the new loan.

Suggestions on how to approach my goal of attaining a secondary loan for the house hack? This will be my third deal, although I only own the one property at the moment after selling my first deal off.