Profile picture for user4645300

Rent primary residence but want to buy future primary residence

My fiance will be retiring in about 8 years.  We want to continue to rent in our current location but want to buy a home now in the city we wish to retire.  Is it possible to rent a home and buy a property we will consider our primary residence in the future? 
  • June 18 2012 - Myrtle Beach
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Answers (2)

Profile picture for wetdawgs
Of course you can buy a property elsewhere.   As you won't be living there for several years, you won't be able to get a loan for a "primary residence".     Do you plan to rent it out until you move?    Having a vacant home at a distance is a pain, and it is really hard to get insurance.

  • June 18 2012
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Yes. Talk to a mortgage loan officer and check out your options.
  • June 18 2012
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