Mortgage Loan Issues

[Eric Samek]

Hello,

I have a question. I purchased a property with the intentions of moving in so I financed it with a 30 year conventional loan. Some things changed and ended up renting it until we can move out to the property which would be within the year.  The bank was audited and since I had a rental insurance policy on the property they questioned why I wasn't living in it. I informed the bank it would be a little bit before I could move in and now they want to refi it into an different loan.  This includes a much higher (over 6%) loan, remainder of the 20% down plus some closing cost.  Just curious if anyone has experienced this or has any advice?