Asked by prayerhuang, Livingston, NJ • Sun Apr 21, 2013
I recently bought a house as our primary residence with the intention to live there because of the good school area. However, our plan might change and we probably won't move in within about 3 years. The loan is for primary residence. So can I rent this house out for this period of time and move in a couple of years later? Do I have to tell the bank to change the loan type to investment property loan? Normally what would the banks do for this situation? Thanks!
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