Conventional loans for primary house

[Kenji Tominaga]

Hi,

I'm currently looking into Philly market and shopping around the financing options.

My scope is as follows;

     - I'm based in NYC, and moving into this Philly property might be a tough decision (I need to commute to NYC office)

     - This is my first investment property.

- Looking for SFH or Duplex around $200K

I spoke with a couple of loan officers and brokers, then some of them mentioned to use conventional loans for primary house to get 5% down payment.

Of course this is for a primary house, so a buyer "intends to move in" to the property.

I learned FHA loans are more strict and require to live for 12 month at least, then banks might come for inspections.

I would like to ask for your experiences around conventional loans for primary house.

     - How long did you live there if moved out

     - Is there any occasion that you intended to move in but you could not move in

     - Any inspections or request to provide with the proof of move-in

Thank you in advance for sharing your time, experiences and knowledge!