OfflineWhen buying residential property,some investors will claim that they intend to live in the property in order to get slightly lower interest rate and significantly lower down payment offered to owner-occupants. Be forewarned, however, that almost all institutional mortgages are government insured, guaranteed, or repurchased. All of which means that if your're caught, you'll have to answer to the Treasury Department.
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Thanks for the inisght and the information. It is true that honesty is the best policy. Sometimes people want to create "short cuts" to save money but they are only cheating themselves in the long run. Believe and Achieve!
- Joe
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