Can you get an owner occupied loan out of state?

[Account Closed]

Hey BP! I currently reside in IL.. 😪 I plan on moving to Tennessee in the summer of 2021. I was wondering can you get an owner occupied loan as long as youre in the property within 60 days? Also, do you have to have proof from an employer that you'll have work where you intend to move? Without going into too much detail, i dont intend to keep my current job. And if anyone knows any meet ups they attend around Knoxville, let me know! I'll be around, thanks.

[Steve Morris]

Well, if you can convince the lender you'll be living there, when you close, they'll have you sign an affidavit to the effect of the property will be your personal residence.

I'd spend some time talking to your lender about your situation upfront.  People from OOS in OR buy houses here all the time - Usually thru lenders in OR.