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Updated over 6 years ago on . Most recent reply

Josh Thompson's profile image
Josh Thompson's profile image
Josh Thompson
  • from Rahway, New Jersey
  • Member since Apr 14, 2016
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72
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Josh Thompson's profile image
Josh Thompson's profile image
Josh Thompson
  • from Rahway, New Jersey
  • Member since Apr 14, 2016
Connect
Josh Thompson
  • Rahway, NJ
6
Votes |
72
Posts
General Landlording & Rental Properties

Extenuating circumstance to rent out owner occupied property?

Josh Thompson
  • Rahway, NJ
Posted

I have a condo that I purchased in November. I used a 3% conventional loan. The problem now is that I work in construction and am currently working in Northern NJ. The commute home is 90+ minutes and is becoming a hassle.

Is this an extenuating circumstance to rent out my condo so I can move back closer to work? If so do I need to call my lender and get approval?

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