conventional loan but not primary residence

[David Jackson]

So i was talking to the lender and i told him i am going to flip or rent the property after rehab. He said i can go with conventional 30y loan with 5% down. I asked him if this kind of loan can be used for the investment i'm trying to make. He said, no one will check if its my primary or not so i'll be fine.

Now the question is, should i go along? It will be my second investment property. The first one is clean and clear now.

[Wayne Brooks]

No.  It’s up to you but you Will be signing documents stating this Will be your primary residence for at least a year.  Your broker is shady, to say the least.