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Updated almost 4 years ago on .

User Stats

68
Posts
13
Votes
Viral Patel
  • San Jose, CA
13
Votes |
68
Posts

Second Home to investment

Viral Patel
  • San Jose, CA
Posted

Hi all,

I bought a new construction with second home intention and my loan qualified as a second time. Lender approved loan fo final closing. 

My closing got delayed last moment due to lot of pending repairs on the house. Now just one week before closing, they send an email that they will change loan to investment as my intent is investment. 

I did post ad on MLS to see what kind of rent I can get as I m working on transfer to this state. I did mistake here…assuming underwriter will not check. Need some guidance - how can I share my intent of second home to lender as I did that mistake? I don't know why they think it is investment home? I m guessing that they saw my house for rent. I don't think underwriters have time to google search each address.

Any help/guidance will be appreciated?