Refinance as a second home with a renter

[Stephanie Gledhill]

I bought a property in May 2020 as a second home. My lender told me if I ever INTENDED on living there I could purchase it as a second home. (I live in CA, this property is in TN).

I would like to refi this property from 3.5 to 2.625 as a second property. I have a renter in it as of July. My lender is getting an appraisal waiver.

Does the INTENT rule still apply? Do people do this? The lender is pushing me to do it. Can I get in trouble for this?