Private Lending & Conventional Mortgage Advice
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback
Updated about 1 year ago,
Second Home financing options
Hi everyone,
I just discovered this fantastic platform, and I am curious how you all are thinking about this. For my first home purchase, I did a conventional bank loan through a top big bank. I lived in the property, however was "recalled" back to the office 4 hours away and ended up renting out long term. I no longer occupy that property.
I am interested in buying my second property and willing to move to the state where it is located, with a job pending. Can I purchase as a primary home if I move in 6 months to this location? If I purchase as primary, what other limitations are there (how long I need to live there, etc). Do you know how lenders think about situations if I move there for a year and then get a job that takes me to a different location etc?
I am not trying to cheat the system, but generally interested in moving around to different markets, and sometimes the job takes me to different places.
Any advice/recommendations, please! and be easy on me :)