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Updated over 1 year ago on . Most recent reply
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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 :)