My loan officer might be suggesting Mortgage Fraud

[Ryan Beckley]

“Well you can always just state your intent is to make it a primary residence. Once you get the property then whatever, life happens you may change your mind if you catch my drift” - this was followed by a laugh.

That’s what my lender said to me when I asked him if there were any loan options for less than 20% for a second home/investment property within the same city I live in. (Midwest college town) I used this same person for my primary residence about a year ago.

After reading online it appears to be mortgage fraud, but if life circumstances change it’s kind of a grey area

Is this actually an option? How risky is it if the loan officer is basically suggesting it. This would be a visible property on Airbnb. I wouldn’t have considered this as an option if the loan officer didn’t suggest it.