Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 16%
$32.50 /mo
$390 billed annualy
MONTHLY
$39 /mo
billed monthly
7 day free trial. Cancel anytime
Starting Out
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 6 years ago on . Most recent reply

User Stats

41
Posts
7
Votes
Cisco Hood
  • Rental Property Investor
  • Phoenix, AZ
7
Votes |
41
Posts

Why is my lender saying im supposed to occupy for 2 yrs

Cisco Hood
  • Rental Property Investor
  • Phoenix, AZ
Posted
Hey bp! I talked to the lender who I got me my 5% down Owner occupy conventional loan and he is under the impression that I need to occupy the home for 2years before I can rent the property. After our conversation I looked over all of my loan docs a few times and couldn't find anything stating I have to live in the property for 2years. I did find the section in my docs that states I would need to occupy for 1year. So is it 1 yr or 2 yrs? What do you think is going on here?

Most Popular Reply

User Stats

569
Posts
264
Votes
Michele B.
  • Vandalia, MI
264
Votes |
569
Posts
Michele B.
  • Vandalia, MI
Replied

Two years occupancy is about selling and not having to pay capital gains taxes.  Two different things entirely. 

Loading replies...