For residential property, you can put very low down payment, 5%, 10%. It's much better deal than investment property (20%+), but the criteria is to live there. If you work remotely, can you move to the place you want to buy house and apply the residential mortgage?
- First Tech Credit Union / ConsultantTT425moreIf you don’t move into the home within a 60 days of the closing date then it does not considered as a primary home. If your working remotely and want to buy a home, consider buying a 2nd home/vacation home. The guideline and criteria is the same and primary resident.
- Quicken Loans Kbzh37If you’re saying you wanna call it a “primary” when it’s actually an “investment,” yes, you probably can get away with it, BUT if something smells fishy to an underwriter (like not ending a lease/selling your current home, or just overall purchase reason doesn’t make sense) they might flag and investigate it which could get you in alot of trouble. Good luck!!!