When you get a "owner occupied" mortgage loan... Generally speaking, as long as you've liven in the home at least one year after the loan closing, after that, you are free to rent it without a violating your mortgage loan. You would have to read your actual mortgage note, but I've never seen one less than one year. www.Mortgage-Duluth.com
Good afternoon and thank you for using Lender 411. Most lenders include occupancy restrictions when you purchase or refinance. Usually 60-90 days. How long ago did you refinance and which type of loan did you select? Fixed rate, variable, cash out? Rental income used for qualifying has changed. Did you or are you planning on buying another home? Feel free to contact me direct at dquintero@desertspringsfinancial.comThank you
Yes you can.
Generally this should not be a problem.
Most mortgage loans have restrictions on this and require you to get approval or at least inform them of this change. Find your Mortgage and Note from when you refinanced and read it - it's not so complicated that the average person can't understand.
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