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Account Closed
  • Accountant
  • Grand Rapids, MI
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Primary Residence Question - It was and will be again - refi?

Account Closed
  • Accountant
  • Grand Rapids, MI
Posted Jan 10 2020, 06:12

Here's my situation:

- Bought duplex in mid 2016. Lived there for one year on one side of house.

- Bought single family home as my primary residence in mid/late 2017. Lived there for 14 months.

- Moved back into duplex to save a little money/bc I broke up with girlfriend and the top of duplex was vacant.

- I want to re-fi the single family home because I bought it when rates were higher and my credit is now quite good.

- Can I call the single family my primary residence on the refi EVEN if I am NOT living there at the moment? I want to do a 15 year fixed, and would expect to move back in there in 6 months from now, and live there for the next 10+ years. Seems like compared to the duplex, this IS my primary residence? They are coming to do an appraisal pretty soon on the single family. Should I be worried about the fact that other people are living there?

Thanks guys!

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