Currently own home and live in it. Looking to refi; however, I also want to purchase a new home in the near future and keep

You need to be very careful here. When you close escrow on a conventional Owner Occupied loan, Fannie Mae and Freddie Mac (most conventional loans are one of these) require you to sign an affidavit of occupancy where you attest to the fact that you are living in the home as your primary residence and intend to stay there. Moving out prior to one year is usually considered a breach of the terms of your loan agreement and the lender CAN and many will call the note due and payable. There are folks that have done it and complained on this site how the bank is now taking legal action against them. ~ Bert Carpenter, The LoansA2z team of NOVA Home Loans ~ NMLS 40586 ~ Certified by the National Association of Mortgage Professionals and Licensed in California and Arizona ~ Licensed in California and Arizona ~ www.LoansA2z.com 888-889-9950

It is all about intent. When you sign for your owner occupied home refinance, you are swearing to the lender that you will occupy the home. Owner occupied homes have less risk. Rentals have higher risk, and therefore higher rates and bigger down payments. You also are swearing you will occupy the home for at least the first year. After one year, you are allowed to do whatever you wish. Because you are asking today, you already have the intent to move, so tread carefully. On the other hand, say six months from now, your company closes, and you move 200 miles away. You had no intent "today" to turn the house into a rental and buy something new - so you are OK. www.Minneapolis-Mortgage.net

We have programs that doesn't make you wait a year. As long as we get a rental agreement in place with deposit you will be able to purchase another home. Get into touch with me for a pre-approval. P: 888-320-7888 - Ken@MortgagesforAmerica.org - Ken Burrows

Are you refinancing it as an Investment Property? If so, you are OK. If you want it as an Owner Occupy. You need to change your license and payroll and bank accounts to show the change. What you do after 3-6 months is then ok.Sun National Bank is a Federally Chartered Bank who can lend nationwide. To better help you, I would like to see your financial situation.Please send me the following information for all borrowers:1. 1 Month of current pay stub's2. 2 Year W-2 Income Statements3. 2 Year 1040 Federal Tax Returns4. 2 Year Business Tax Returns5. 3 Months of current Bank Statements (if you own a business)6. Copy of Drivers Licenses Please forward them to:James Mazzola8 Matthew AvenueKendall Park, NJ 08824jmazzola@sunnm.com or cornoil@comcast.netIf you have any questions, please do not hesitate to contact me:(O) 973-805-4107(C) 732-501-4249(F) 732-951-0629Thank you,James Mazzola