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Updated over 9 years ago,
Minimum Time Residing in Primary Home?
I purchased a home with a second VA loan approximately a year ago. The house is great, but for a variety of reasons I'm interested in moving to a nearby city and making this home a rental property. I vaguely remember seeing something in the mortgage paperwork about a requirement of this home being my primary residence for 2 of 5, or 3 of 5, years but I cannot find this. Does anyone know if this is my imagination or a real requirement.
I know there are tax implications if I don't live in the house 2 of 5 years. Since I'd be making it a rental that I don't plan on selling at any point in the foreseeable future (certainly not in the next 5 years) so would this matter at all? Any thoughts or advice are greatly appreciated. Thanks!
Brian