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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 128129  
Subject: Re: question: down payment on my first home Date: 5/15/2013 12:38 PM
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your Occupancy Clause says that you need to occupy it for a year "unless the Lender otherwise agrees in writing". I guess you could request that the Lender does so before signing that.

And then the lender would probably offer you a loan at an investor rate, rather than approving the request.

You need to understand, these loans are all being packaged up to be sold to Fannie/Freddie, and if changes are made before signing, they don't fit the criteria to sell to Fannie/Freddie. And if they don't sell the loan to Fannie/Freddie, the lender has to hold the loan, and doesn't get their expected money out of it, which means that they don't have money to cover the next guy's loan.

You can try, but I don't think you'd have much luck.

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