real estate

[rosco58]

What is the name of your state? michigan
how long do i have to live in a property i have bought with owner/occupant financing before i can either rent it out or fix it and sell

 

[nextwife]

REad your mortgage. Some programs are rates that are "bought down" under state subsidies to assist first time buyers. I know for certain that some reimbursement points would be due at sale if certain owner-occupant and time-line terms are disregarded.

 

[HomeGuru]

What is the name of your state? michigan
how long do i have to live in a property i have bought with owner/occupant financing before i can either rent it out

**A: review your lender's requirements.
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or fix it and sell

**A: you can fix and sell at anytime but review any prepay penalties etc.