Conventional loan says I must occupy the home for 1 year.

[Nick Cooper]

I just closed today on my first property. We done a conventional 30 year loan and at closing there was a paper I had to sign that said I must have the home as my primary residence for 1 year. My wife and I are thinking of living in our RV full time and just renting the house out. Is there a way around this? What if I ‘technically’ keep this as my primary residence and just rent out the rest of the house? Or does the lender not really even care? The insurance is escrowed so they will be notified if I switch to landlord insurance. Or do I just tell them I don’t want to occupy it anymore and want to make it a rental is this possible or would that have to completely rewrite the loan?

Thanks in advance for any wisdom on this!

[Andrew B.]

This is not something that is often caught, so you could do it and hope no one ever investigates. However, there is a 0% chance you get out of trouble after posting on a public forum about it with your first and last name and a photo of yourself. 

Mortgage fraud is a federal crime. Just move into the house and rent out the rooms.