Updated over 4 years ago on . Most recent reply
Can I have two owner occupied mortgages?
I bought my apartment and have been living in it for two years now. I am buying a home near which will be my new primary address but I am keeping the apartment. Can I apply for an owner occupied rate mortgage on the house even though I already have an owner occupied mortgage on the apartment? Do I have to let my first mortgage lender know I am moving?
Most Popular Reply
Bill B.
#3 1031 Exchanges Contributor
#3 1031 Exchanges Contributor
- Investor
- Las Vegas, NV
Change the insurance, not the loan. (either to rental or 2nd home that is vacant more than 30 days at a time.)
I currently have 4 mortgages that were all originally owner occupied loans to get the better rate and terms. live there for a year, move to a new home, and rent the previous property out.