Can you refinance home as primary residence and then move?

The way you phrase your question, I would say NO, and doing so could be considered fraud. When you refinance a primary residence, you sign an affidavit swearing to the accuracy that you intend to live in the property as your primary residence. Doing so when you know you are moving out would be fraudulent. However, if you refinance as your primary and life events force a move, such as you get a job transfer that makes living in the property impractical, then moving out would be acceptable. At a minimum one should plan on living in the refinanced property for at least one year before moving out. ~ Bert Carpenter, The LoansA2z team of NOVA Home Loans ~ NMLS 40586 ~ Certified by the National Association of Mortgage Professionals and Licensed in California, Arizona and Washington ~ www.LoansA2z.com 888-889-9950

Bert Carpenter answers your question quite well. Sometimes people refinance theirprimary home and soon a baby is on the way, and they need a bigger home. Or a job transfer out of the area comes up suddently. If this occurs with 6 months or even a year of refinancing check the legal documentation with the bank you refinanced with. Most often it is clear you understand it can be construed as fraud, except for legitimate reasons. In all other cases, as Bert said, you ought to wait at least a year for moving.