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Private Lending & Conventional Mortgage Advice
Account Closed
  • Rolling Meadows, IL
5
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Freddie Mac Home Possible "Primary Residence" requirement

Account Closed
  • Rolling Meadows, IL
Posted Feb 5 2017, 07:26

Hello All,

I'm very interested in taking advantage of Freddie Mac's Home Possible program in order to purchase a multifamily 2-4 unit property. One of the requirements was that it would have to be my primary residence. Now does this mean permanent primary residence or can it be I make it primary residence for 6-12 months and then I can purchase another property and make the second property my primary. If anyone can give me insight that would be great. I'd love to utilize Home Possible because of the 5% down payment for a conventional loan, vs 3.5 FHA.

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