Can you refinance an investment property to a primary residence?

[Will Bodine]

I am currently in the process of buying 2 duplexes that are right next to each other. I was originally going to buy the first one as an investment property and wait until the tenants lease is up to close on the second one so I can move into it and use owner occupied financing. Owner occupied financing allows me to save cash by using a lower down payment and gives me a better interest rate by about a point.

The seller does not like the structure of the deal, so I was wondering if I could buy both properties right now with investment loans. Then once the tenant leaves and I move in if it would be possible to refinance the property as owner occupied to get my interest rate lower.

Thanks guys!