I'd like to add that for anyone else wanting an to convert their primary property one day build good relationships with your neighbors in the mean time.

Good day mates🫡,I was told that you have to be in your residence for a certain amount of time before you can get a heloc on it. Is this a fact, and if so, what is the time frame?

These loans allow buyers to purchase a property “AS IS, WHERE IS”.Renovation loans are available in 30, 20- and 15-year fixed rate terms and can be used to purchase owner occupied, second home and investment properties.By time the renovations are completed, the home needs to be in move-in, live-in condition and conceptually ready to be resold without repair issues.Other Important Items to Know about “Conventional” Renovation LoansMaximum – Minimum Purchase/Upgrade Amounts:Maximum: Limited to 75% of the “after improved” valueOccupancy: Primary, Second Homes, Investment PropertiesUnits: 1-4 unit propertiesRenovation Term:The renovation term for this program is a maximum of 180 days.The Borrower(s) is responsible for the work being completed within the escrow period.

When did you get into my primary residence???

If you are looking at 4plex you can enter that project with as little as 5% down if you buy it as a primary meaning you will live in one of the units.

I owe 400K on my current home and would be looking at 450K for a new primary.

Most of the time, unless you bought many years ago or got some other crazy deal, primary homes don't make good rentals because you paid too much for them to ever really make any money.

Primary residence loans are less risky than investment property loans, which is why they have more favorable terms than investment property loans.

Is our primary residence and is a long term live in flip. $490k mortgage.

Hey Chris would love to visit.  100% of my business is helping clients in all 50 states with purchasing vacation homes/STR properties. 90% of my clients use the 10% down loan because the lower down payment requirement and rates/cost similar to a primary residence.