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Refinance to change own occupied loan to rental
Hi all,
I have stayed in my primary home for 2 years and the latest loan refinance is Sep, 16, 2020 (Quicken loan).
Early this year, because the low interest I purchased another property with better school and neighbor. Now I plan to move to the new property. It is expected to close escrow this month and the previous owner needs to stay 1 more month so my actual move-in day is likely early March. So I am planing to rent out my current primary property. Because there is only about 5 month since last refinance on my current primary property, should I do the refinance to change the loan from primary home to rental type?
Thanks for help and insight.
Best Regards, Clark