conventional loan 5% down how many can you get ?

[Rafael Trinidad]

I have heard that if you have a Fico score 780 you can qualify for a conventional loan for a primary home with 5% down my question  how many times can I qualify for %5 downs as long as I move into the property as primary ? every 12 months ?

[Chris Mason]

Quote from @Chanson Ching:

Quote from @Chris Mason:

Quote from @Rafael Trinidad:

I have heard that if you have a Fico score 780 you can qualify for a conventional loan for a primary home with 5% down my question  how many times can I qualify for %5 downs as long as I move into the property as primary ? every 12 months ?

 There's no limit. Since each one you sequentially buy will be a primary residence, even the Fannie Mae cap of 10 financed properties will not apply. I've had clients pick up a half dozen homes without ever putting more than 5% or 10% down or selling any of them.

 Did your clients move cities or have a valid reason for buying another primary with 5% down in the same city?

 It's a combination of things like new jobs, new home is closer to existing job, new home has a bigger yard for my dog, fiance and I broke up so now I don't need as much space, bla bla bla. Nine times in 10, the truth shall set you free, and real life contains sufficient true facts to make it work. 

FHA is the only time there are hard/fast requirements. That, and lots of refi-only loan officers don't know what they are doing, but have been forced to offer purchase mortgages because no one is refinancing, so they just regurgitate FHA rules as if they were applicable to conventional, because they do not know any better.