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Updated over 5 years ago on . Most recent reply

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What happens to my rate if I decide to not live in duplex?

Stevan Radojevic
Posted

I am about to put an offer on a duplex and I would appreciate some help from you guys. We may live in one of the units and will be applying for primary residence mortgage - what happens with our mortgage rate if after the inspection or after we close on the sale we decide we do not want to live in one of the units?

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@Stevan Radojevic You will be able to get free accomodation for the next 30 years and up to $1m dollar fine. It is mortgage fraud to say you are going live and not move.

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