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Updated almost 5 years ago on . Most recent reply

Owner Occupied Loan to Investment with PMI?
Can you turn an owner occupied property into an investment property after 12 months if the LTV is greater than 80% and there is PMI? I am thinking of turning my current home into an investment property after 1 year and purchasing a new home with an owner occupied loan but am not sure if I can do this since there will still be PMI associated with my current home. Also the home will not appreciate enough in this time to get LTV less than 80%.