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Updated over 4 years ago on . Most recent reply

Jeff Dixon's profile image
Jeff Dixon's profile image
Jeff Dixon
  • from Orlando, FL
  • Member since Sep 9, 2020
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9
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1
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Jeff Dixon's profile image
Jeff Dixon's profile image
Jeff Dixon
  • from Orlando, FL
  • Member since Sep 9, 2020
Connect
Jeff Dixon
  • Orlando, FL
1
Votes |
9
Posts
General Real Estate Investing

3% Down Conventional Loan

Jeff Dixon
  • Orlando, FL
Posted

My wife and I are considering taking advantage of a 3% down first time home buyer offer for a conventional loan to purchase a multi family. However, my understand is you are required to live in it within so many days of taking possession of the property.

Does anyone know what the penalty is if you’re not living there? Does the mortgage company generally investigate this if the mortgage is being paid on time?

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