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Updated about 8 years ago,
Financing a SFR Already Rented
Hi all! I am looking to purchase a house in the Dallas, TX area with conventional financing and 20% down as a primary resident (rent it out in the future). I've already been preapproved by the lender. I then ran across a house for sale that is already rented out on a recent 2 year lease with 18+ months remaining. If I pursue this property, will the lender care or find out that this is currently a rental property? or will this be a deal breaker for the lower rates that come with financing as primary resident? Any feedback and suggestions you have will be greatly appreciated!