Owner Occupied Loan Question

[Samantha Martin]

We currently own a home, and are looking into investing in a 2nd home. We were told we could buy the 2nd home with an owner occupied loan if we lived there, and rented our current home. We are wondering, is it illegal to get the owner occupied loan, but not live in the 2nd home? Can we get the owner occupied loan, and continue to live in our current house, while renting out the home that we are purchasing with the owner occupied loan?  We are new at this, and really trying to figure out the best way to go about purchasing more homes without getting caught up in a loan mess that will only allow us to own 1 or 2 homes. Any advice is very helpful. Thank you!