Residental vs. rental property interest.

[Huiping S.]

We have a home with residential property interest and have this one for almost 2 years. In few month, my office will move and longer to communicate (one way close to 1 hour. I know it is nothing for NY or CA people). We are thinking to buy another property closer to my office and rent out the present home. Can I still apply the residential interest on this new property purchase? What are the specific requirements to qualify for residential interest rate on conventional loan for 2ed or 3ed properties? Such as distance from the first home, job change, residential or renting, etc.

Thanks for sharing.