Owner Occupied every year?

[Bishoy Takla]

Hello PB,

I just bought a duplex with a 5% conventional Owner-occupied loan (home possible program)  and I plan to stay in it for the one-year requirement.

If my DTI allows, Can I get another OO loan next year for another property and move in this new house for another year? is this acceptable or frown upon or illegal? and if it is acceptable how many times can I do this?

[Frankie Woods]

I've done this twice.  As @Andrew B. stated, the third time I tried to do this with an FHA loan got held up because they didn't believe I'd actually move. I used the same lender and was told that it was the reason for the hold up. Generally though, this is a reasonable strategy. Just be up front with your lender.