Purchasing a property to rent illegal??

[Celena Lathrop]

I spoke on the phone with a mortgage lender from Rocket Mortgage. When I told him my intention to purchase a property with the plan to rent it out in the future, he told me that was illegal and fraudulent. I've never heard this before! Does anyone know where he's getting this from or what he means by this? Please advise! I'm baffled.

[Nicholas L.]

@Celena Lathrop

i'm assuming he was speaking to an owner occupant lending product that requires you to live there.

you get better mortgage terms for owner occupancy.