All Forum Posts by: David Holcombe

So.. I need to sell a house that we just purchased through conventional financing and I'm wondering how to find out what the fees/penalties will be for not holding it for a year. We're renovating the house now and will sell in the spring. (We're going to sell it about 5 months after the purchase date).  We were originally going to live in the house but the renovation costs and taxes of the house are both significantly higher than expected so we need to sell.  It's a Jumbo loan with conventional financing, 30 year payoff.  The loan doc says there's no pre-payment penalty but it also says I need to live in it for a year as my primary residence.   Does anyone have experience with this type of situation or know who I should talk to about it (Accountant, lawyer?) . Thanks in advance!