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Updated over 10 years ago on . Most recent reply
Is this a second home or primary residence
Hi all,
We have owned a home about an hour from Boston for 8 years. This past January we started renting our home and moved to Boston (renting an apartment). We will rent here for another year, and then look to buy a new home. One option we are considering is buying a home in Portland, ME which is about 2 hours from Boston.
We are looking at homes in Portland now, and I could see us buying the home months prior to actually moving there. My question is, will this be considered our primary residence if we are still renting in Boston? Will the fact that our employers are currently in Boston, and we are buying a house in Portland, be an issue for the underwriters?
Thanks for the insight.