Questions about Vacation Home Loans - Can I eventually move in?

[Clayton Hepler]

I’m thinking about doing a vacation home loan to buy a property in Denver, Colorado. There is a possibility that I will be moving to Denver Colorado within the next few years so I want to keep my options open for one day moving into this residence or renting it out. What are the regulations for vacation home loans after a certain period of time? Can I eventually move into the property or rent it out by the room? 

[Nick Cooley]

Hey Clayton, great question!

I’d love to hear more from a lender, but depending on your timeline and where rates go - you would likely be better off just refinancing it into a primary residence product once you move to Colorado anyway. Especially with the way our market is appreciating, you might even be able to do a cash out refi at that point.