House Hacking - 2nd Primary Resience

[Bobby Swier]

Good afternoon,

Currently live in a single family home with 2 tenants. (Covers my mortgage)

Looking to purchase another property to move and make my primary residence and rent my old primary residence out to a family.

Questions

1. Will I be able to get a approved for a mortgage at 3.5% vs 20% because I'm going to make it my new primary residence. 

2. How long do I have to move out of my first primary residence to get into the new purchased home?

Bobby