Can I refinance my home now, rent it out and buy a new home as a primary residence?

You can, however more info would be needed.. if you're looking to refi now and immediately after closing, rent it out and buy a new home as your primary, you can do the refinance, so long as you refi as an "Investment" and not as a primary residence... When you refinance as your primary residence, you sign a statement that will say you intend to live in the home for the next 12 months minimum.. if your intent is otherwise, and you proceed as your primary, knowing you're going to rent it out right away, you will be committing loan fraud.. The lender could call the note due, although unlikely, it is possible.. If you are thinking in the next year or so you intend to purchase a different home as your primary, but your just not sure, then you can proceed with a refi as your primary.. however if you apply for a different loan as primary residence inside of 12 months, the new lender will want a letter of explanation, and it would have to make sense.. Investment rates are higher than primary residence rates, but paying a slightly higher rate would be a whole lot cheaper than what could happen if you're prosecuted for loan fraud..... I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com

If you ask for a primary residence refinance, then you intensions have to be to stay in the home. If you do that, and then immediately move out, there may be some ramification.....You could always refinance itas an investment property, which will cost you more....I am licensed in Oregon, and would be happy to assist you with this and help you sort this out....

Yes you can. You will need to discuss the full circumstances to see if you will qualify for both.

You will sign an occupancy affidavidt at closing saying you are going to occupy the home. In addition, you note will technically require you to notify the bank if the occupancy changes. If your intent from the begining is to do what you have stated above, you will be commiting mortgage fraud

Yes. With Conditions.

Yes you can, but you will need to tell the lender you are going to rent the house out. This means writing a loan for investment not primary residence. If you dont tell them, when they find out you will have committed fraud. I can not suggest doing that. www.HOMEMORTGAGEXPERT.com

Yes, but it must be done with care, especially if you use the funds from the refi as a down payment on the new home. Work with a mortgage broker who has done this before, and knows the pitfalls to avoid.

That's a great question, and there are a couple of things to consider. Lenders treat investment properties differently than primary residences. I am licensed in Oregon, and have an office in Salem. I would be happy to discuss the details with you if you would like to explore further.Kirk Fillman, MLO-997418 Loan Originator 471 Lancaster Drive NE | Salem, OR 97301 Office: 503-371-0321 | Mobile: 503-551-0446 | Fax: 503-371-0355 salem.soundmtg.com | NMLS ID 38439 | Kirk.Fillman@soundmtg.com