Corpus Christi, TX · Member since 2020 · 7 posts · 0 votes
Hello I Am 24 years old looking to get into real estate investing I have my eye on a duplex but my only dilemma is I don’t know if I should get a Owner occupant loan, or save up 20% for loan I am pre approved for investment loan, I work in construction and don’t stay in one area for long so if I did owner occupant I would even be living in the other unit
Rental Property Investor · Greenwich, CT · Member since 2015 · 4k+ posts · 2k+ votes
6y
I would still look to an owner-occupied mortgage with the intention of living there, @Thomas Reed. If you intend to live there, take occupancy within 60 day, and then have to move for work before the 1 year, that's probably fine. As long as your intention is to owner occupy. If work/life situation changes, then it changes. If you're worried, have the conversation with your lender up front. Let them know that you fully plan to live there, but the nature of your business...