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Updated over 2 years ago,

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Ann Winegar
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Purchasing duplex then next steps

Ann Winegar
Posted

I’m planning on purchasing a duplex or triplex as my primary home in 2023.  I will qualify as first-time home buyer and plan to use a conventional mortgage.  I plan to live in one of the units for at least a year, which is my understanding that most lenders will require.  After a year, I’d like to purchase a small house to live in and flip or rent after renovations.  What kind of financing options would be available for the second house? Also, will I be able to keep the original mortgage on the first house after I’m no longer living there or will it have to be changed to something else.  I’m a newbie at this and really appreciate any responses.  

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