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Updated over 12 years ago,

User Stats

1
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1
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Alex Past
  • chicago, il
1
Votes |
1
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refinance primary then buy investment and want to move into it

Alex Past
  • chicago, il
Posted

Need some advice....

Recently refinanced a primary home (HARP) then purchased another home as an investment property a month later (25% down, higher interest rate). Now want to move into investment property and rent out the refinanced primary (new property is bigger, better location, etc). There is a clause in the refi agreement that says we have to occupy the primary home for one year. Are we stuck in the primary home for a year or can we move into the investment property without a problem? We qualify for both loans without projected rental income.

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