Buying an Investment property and building a primary.

[Tom Kentop Jr]

I am in the process of purchasing my first investment property (Triplex) which I plan to live in for the short term. I plan on purchasing with a primary residence loan rather than investment loan for the favorable terms.

I am also in the process of selecting and building a modular home which WILL become my primary residence.

Here is the question...

How will the first "primary" mortgage be looked at while applying for my build loan(which will be converted to a primary loan apon completion)?

Will me getting that first loan as a primary be an issue considering I plan to receive both loans within months of one another?

Should I just forget the first loan all together and purchase the property for cash and refi after completing my construction loan to get my money back..??

Love to hear if anyone has been through this themselves.

Will