Financing in Dallas>Question Details

Jimmy, Home Buyer in Dallas, TX

Only considered for investment loan and not conventional which increase rate.

Asked by Jimmy, Dallas, TX Thu Aug 8, 2013

I am currently in Afghanistan as a contractor and want to buy a house in October/November 2013. I am going on on vacation during those months and would like to buy. Thing is I'm trying to get a loan and my loan officer said I qualify only for an investment loan even thought it's my primary because I can't occupy for 60 days after close since I will be gone again after I buy.

So basically I will buy and be gone for 105 days.

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If you move in and then leave..... you have 'taken occupancy'.

I don't care if you leave the country for 105 days or 1000 days.

That loan officer was wrong.



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2 votes Thank Flag Link Sun Aug 11, 2013
Do not commit mortgage fraud. You'll get caught and go to jail. If the lenders are telling you it can not be a primary residence loan because of the days you can only occupy. Then that is all you can do. Be smart about this and get a realtor who will be smart and not tell you what you want to hear.
1 vote Thank Flag Link Sat Aug 10, 2013
can you give me a call tomorrow and I would like to get alittle more information.. to see if I can do it owner occupied 214-557-3312
0 votes Thank Flag Link Thu Aug 8, 2013
can you give me a call tomorrow so I can get a little more information Please.. I think I maybe able to do it

214-55743312
0 votes Thank Flag Link Thu Aug 8, 2013
Swap lenders not disclose your plans when your intent to take possession . If you move in your personal items you are living there just not occupying the property.

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0 votes Thank Flag Link Thu Aug 8, 2013
How about if the home closes while I'm overseas? Can I just have a friend take care of the house?
Flag Thu Aug 8, 2013
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