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Reply to "Removing a second home rider from mortgage - how does it works?"
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[quote=Anonymous]OP Here. I just reviewed out loan application. We checked the box indicating the property will be a "second residence" based on the understanding with our broker that the home we live in (provided by my husband's employer) is our primary residence. We were told because the houses are not in the same location and we don't own the one we live in now, that this qualifies. We also selected the box indicating "no" we do not intend to occupy the residence as your primary residence - because we are not planning to move into the home at this time and make it our primary residence. I'm wondering we interpreted this incorrectly. But as I said, we told the broker our intentions to rent and live in the home at some point. And based on our conversations with the broker, we thought we were doing this right.[/quote]
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