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Author: aj485 Big gold star, 5000 posts Feste Award Nominee! Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 127262  
Subject: Re: question: down payment on my first home Date: 5/16/2013 1:05 PM
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This is to be my first home, not a rental property but I need to have the ability to rent it out when I’m out of the city for extended periods of time.

If you 'need' to rent it out when you aren't occupying it, then it's a rental property. If you want it to be an owner/occupant property, you need to have enough money set aside in reserves to pay the associated bills without having to rent it out for at least the length of the occupancy requirement imposed by your lender, in case you cannot get the occupancy requirement waived.

AJ
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