Get conventional loan and rent out immediately

[Joseph L.]

Hello,

I was told since I don't any property I could do s conventional loan for a property and say it's my primary residence and then I could immediately rent it out without having to live in it. This would be my preference as I would want to only put the minimum down instead of 20-30%.

Is there any wrongful liability that could arise? I read sometimes that you need to live in the place for a year to get owner-occupied loan rates is thst true? I am in Florida and if anyone could point me in the right direction to gather more information that would be appreciated.

Looking forward to learning and owning properties soon.

Thanks,

Joe