Buying from another state it would be considered a second home which does give you a better rate than income property. That said you will need to have a 720 to do less than a 20% down payment. You will also need to show that your retirement income can cover both payments or that you will be continuing your employment for more than two years to use your employment income. There are a few other factors to consider and you may want to speak to a mortgage professional in Florida to determine what your best plan of action should be. Contact Kevin Reeves with New Penn Financial if you would like to discuss your options 813-728-4992.
Since you are not retiring soon, your new home would be classified as a 2nd home (or vacation home). In most cases there is little difference in rate or non at all. Unless you live in the new home 181 days a year you will not be eligible for homestead (lowering of your taxes).
Joshua is wrong. If you use your employment income for qualification and your job is not relocated you do not qualify for owner occupied.
Here's a very helpful website about mortgages by a highly respected Wharton Business School Professor:
One of the "Upfront" lenders recommended is:
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All the best,
Alma Rose Kee, PA
Future Home Realty
If the next residence you select is a duplex, a small multi family or some type of residential property that will obviously provide income this property type would fall into the category of an investment property. Take the time to get pre approved before you start looking for a property. The process will help you to understand it better.