New primary residence loan Within one year from last purchase

[Mike Mazzucco]

Hi,

My wife and I just recently refinanced our current primary residence a week ago. We may have an incredible opportunity to purchase an off market property that will allow us to rent a couple of units on site.

I know when you take a loan on a primary residence, your usually supposed to hold on to it for 12 months before you can qualify for a new one.  However I have been told by various lenders that sometimes underwriting can make exceptions if there are legitimate reasons... (ie job related, need for more land, etc).

In this case, we would be moving to a property which has 4x as much land as ours currently, and will be zoned for horse rights.   Has anyone been in a similar situation where they tried to take a new primary residence loan so soon after their last purchase or refi? I’m hopeful that the land + horse rights can add enough justification for underwriting but I don’t know what to expect.

We aren’t supposed to selling our current house, but would like to rent it out if possible down the road..

How would you handle this?