Buying second property using conventional loan

[Alex L.]

Hello everyone,

I have came across on the forum about applying mortgage for primary residence, length of occupancy before converting them to rental. I bought my primary residence (conventional 20% primary residence mortgage) last year in Nov and now I am in the middle of buying a second house (Also planning to use 20% primary residence mortgage). I was thinking using either second property vs first property as rental depending on the market. But I came across something about the length of time in regard primary residence and that could be potential problem since the mortgage is for primary residence. I don't want to have any problem and want to hear out from the BP family. Worst case scenario I will move to the new house and claim the first house as rental.

Thanks all