All Forum Posts by: Monica P.
Monica P. has started 1 posts and replied 4 times.
Post: Getting engaged after purchasing primary residence
- Burlingame, CA
- Posts 5
- Votes 1
Originally posted by @Justine Scheuher:
@Monica P.
Congrats!!! (On both your 4-plex AND engagement!!) This is such a great opportunity and a GREAT potential wealth building asset.
I just bought my first home in May 2017, using an FHA loan. So yes, we are stuck "living" at our homes for 1 year. However, a year goes by SO fast! Your address might be at this 4-plex, but the government can't dictate where you spend your time.
Have your hubby-to-be buy/rent a place near your work (that is still a wise financial decision), and stay there during the week if it makes your commute better. Does one of your 4-plexs have 2 bedrooms? Can you have a roommate to help with the mortgage?
Post: Getting engaged after purchasing primary residence
- Burlingame, CA
- Posts 5
- Votes 1
Thank you, Justine. :-)
Post: Getting engaged after purchasing primary residence
- Burlingame, CA
- Posts 5
- Votes 1
What if people get married who each have a primary residence? They can't move in together?
Post: Getting engaged after purchasing primary residence
- Burlingame, CA
- Posts 5
- Votes 1
Hi there, I just closed a week ago on a primary residence that is my first home purchase. It is a 4-unit building and I was planning to live in one of those units (per the mortgage contract, I need to move in within 60 days and live there for 1 year). I have provided notice to evict one of the units and move in.
Now, my boyfriend and I are discussing getting engaged, and if we do, we would like to rent a place closer to where we both work. Should I, and do I need to, write a letter to the bank to request permission to live elsewhere and rent out all the units in the building I just purchased?