Hi all, I am looking for some information regarding owner-occupied loans.  

Situation: 

I purchase a property in state A with low-money down owner-occupied conventional.

I decide to move to a new state, state B (because my job is remote).  Can I now purchase a property in state B with an owner-occupied loan if I decide to make this my new residence?

What are the contingencies, restrictions, legalities here?

Thanks in advance.

Hey Jack

Generally, you would need to wait a year to get another conventional, owner occupied loan.  There are carve outs for life events like moving because of a divorce or moving for work or if you need more space because you had children.

So...along those lines, if you're moving to be closer to work, then you can do it.

@Jack Landry

Originally posted by @Jack Landry :

Hi all, I am looking for some information regarding owner-occupied loans.  

Situation: 

I purchase a property in state A with low-money down owner-occupied conventional.

I decide to move to a new state, state B (because my job is remote).  Can I now purchase a property in state B with an owner-occupied loan if I decide to make this my new residence?

What are the contingencies, restrictions, legalities here?

Thanks in advance.

 For the exact scenario you described, you would technically have broken your promise made at the closing table before the notary who took your fingerprints, according to my non-lawyer unqualified opinion. 

Had your employer relocated you, you would be fine. If your mom in that other state came down with terminal brain cancer and you needed to be near her for her final days, you would also be fine.

California boilerplate deed of trust paragraph 6 is your next google search.