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Updated over 6 years ago,

User Stats

18
Posts
1
Votes
Ray Egan
  • Miami, FL
1
Votes |
18
Posts

30 year mortgage where I don’t have to stay a year in the house

Ray Egan
  • Miami, FL
Posted

After using Wells Fargo for my last two properties that I’ve successfully sold for a profit, using conventional loans, it is taken me almost a week to get from the same person I’ve been talking to for the last two houses to tell me that yes, in the security vehicle a.k.a. the mortgage there is indeed one line that says that I intend to occupy the house for one year.

 After using Wells Fargo for my last two properties that I’ve successfully sold for a profit, using conventional loans, it has taken me almost a week , to get from the same person I’ve been talking to for the last two houses,  to tell me that yes, in the security vehicle , a.k.a. the mortgage , there is indeed one line that says “that I intend to occupy the house for one year.”

A whole week!

 He seems to think there’s no creative way for Wells Fargo  to eliminate That particular line perhaps in favor of me giving an extra couple of percentage points when I sell the property for a profit.…… I kind of understand that… So my question for this form is

 That particular line perhaps in favor of me giving an extra couple of percentage points when I sell the property for a profit.…… I kind of understand that… So my question for this form is

Does anybody know a 30 year mortgage out there that is not FHA or anything to do with the government, that allows me to buy live in as my primary residence fix up and leave and sell before one year? Or, does anybody know any bank that would be more flexible than Wells Fargo in terms of giving this kind of loan. As I intend to bring A trusted lender with me for future purchases it would almost be like the bank making a continuous stream of income in away.

 A trusted lender with me for future purchases it would almost be like the bank making a continuous stream of income in away.

Any thoughts ideas advice? The Hardmoney lender route seems a little bit too, I don’t know risky?

The Hardmoney lender route seems a little bit too, I don’t know.... risky?

Thanks for any input you guys have for me.

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