Posted by Bruce M on August 22, 2003 at 14:54:19:
It can be done.
They may care, you should read your note to see what it says about occupancy. Most say that the borrower intends to occupy for 12 months.
If the underwriter is good you will probably be asked about moving so soon after previous purchase so be prepared for this. You will need to be able to convince them that you are really going to move in to the new home. A good loan officer would ask you up front for a letter explaining why you are buying a new property so soon after previous purchase. Is the new one in a different \ better location, has your job changed & now you need to be in a different location closer to work? Is the new home bigger, etc.
There are 95% investor loans.
Yes lenders really care about this & don’t like to be defrauded.