Updated over 5 years ago on . Most recent reply
Buying New Primary Residence prior to fulfilling 12-mo occupancy
Hi BP,
In March 2020 I purchased a single-family Primary residence with a friend for 50/50 ownership. I understand the 12-month occupancy rule most mortgage lenders require before you are allowed to repeat the "house hack" process, however I was wondering what the rules were in regards to if both of us have to stay for those 12-months.
If one of us stayed in the current Primary residence purchased in March, can the other person purchase a new Primary residence before the 12-months is up?