Ok so I know what you are thinking.....”this guy is about to get arrested” lol
Well no. So I am buying a property as my primary residence. I am getting a mortgage and I did state to the lender that I intend to live there.
I will live there. But it's a 3/2 SFH. To be honest it's a lot bigger than I need. I was thinking of renting out the the other two rooms to coworkers. Is this mortgage fraud?
I wouldn’t think so because I will still live there. But I wanted to check in before things move too far.
Thanks in advance BP
No it is not mortgage fraud
You are still occupying the property. That's what they require. They don't care if you have other people living with you.
I've had more than one personal mortgage that I turned into a rental. The paperwork just said I had to live there for 1 year.
Take a close look at your paperwork and hopefully it addresses the situation.
You are fine.
Thank you guys!!