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Real Estate
Reply to "Can you buy a house and then rent it out?"
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[quote=Anonymous][quote=Anonymous]I'm currently renting a pretty nice and relatively newer house but have the cash to buy a smaller and older house (also need to borrow some to do it). I want to continue to live in the current rental while renting our the newly purchased house for cash flow. The question is, if I borrowed the loan at the primary residential rate, would the lender figure out later when I rent the house out? [/quote] they have ways of finding out....like the poster who said she called her neighbor's mortgage company - what a total loser! anyhow, why don't you move to the other home as soon as you purchase so that you're not lying about your intent to live in it? Developers do it all the time. moving in and out of homes they've just built just to avoid being considered fraudulent. [/quote]
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