Military mortgage "primary residence"
Hey bigger pockets,
Does anyone have experience wit using military choice mortgage? It allows for 0 down, but isn't the VA loan.
When getting pre approved for it, I made it clear that my wife and I are stationed abroad. Because weve used government housing, we do not yet own a home. The mortgage lender said due to our future property being our first home it must be labeled as a primary residence.
We intend to use the grey area and rent it out when we are abroad, though we "intend to return to it".
Is this a situation where, if the bank finds out that were renting it in order for it to not be vacant whIle we're away, they could call the loan due? Or would us intending to return after stationed elsewhere be enough to circumvent this?
Curious if someone has done this or if there are legalities I'm missing.
Thanks guys