Possible 1st Investment property - PLEASE help!

[Rich Harris]

Hello Fellow BP'ers,

I help an opportunity to buy a currently rented home for 30K. It rents for $750 a month, and is in good condition. The current lease is up in Oct 2014. I plan on moving in as my primary residence then ( I currently rent). When applying for a mortgage, is there anyway to get a primary residence/ owner occ rate instead of the investment property rate?

I do not want to commit mortgage fraud, and I do not want to kick the current tenant out until October. Since it will legally be my primary residence in Oct, I thought there might be something I haven't thought of. Any thoughts would be greatly appreciated. Thanks!

Rich

[Account Closed]

Rich, I concur @Bill Gulley will offer you an answer or get you to someone that can. Is property in NJ? Sandy affected?

Best of luck

G