Zillow Advice: FHA and VA Loans - Can you buy a seasonal home, if planning on turning it into a year round home and primary residence http://www.zillow.com/advice-thread/Can-you-buy-a-seasonal-home-if-planning-on-turning-it-into-a-year-round-home-and-primary-residence/362501/ Zillow Advice | Zillow Real Estate You are buying a second home ... http://www.zillow.com/advice-thread/Can-you-buy-a-seasonal-home-if-planning-on-turning-it-into-a-year-round-home-and-primary-residence/362501/ You are buying a second home and they are nearly identical to primary residences in terms of rates.&nbsp;&nbsp; There are absolutely no rules against moving into a second home down the road.&nbsp; <br/><br/>You lose access to FHA, but it's pretty uncommon (and probably a questionable financial move) to be buying second homes when you only have a few percent to put down.&nbsp; <br/><br/>Are you looking to put down at least 10% on the new place? <br/> Tue, 17 Aug 2010 17:11:00 GMT http://www.zillow.com/advice-thread/Can-you-buy-a-seasonal-home-if-planning-on-turning-it-into-a-year-round-home-and-primary-residence/362501/ 2010-08-17T17:11:00Z Absolutely.&nbsp; That said, ... http://www.zillow.com/advice-thread/Can-you-buy-a-seasonal-home-if-planning-on-turning-it-into-a-year-round-home-and-primary-residence/362501/ Absolutely.&nbsp; That said, if your initial intention for this new home is for it to be second home or vacation home you will qualify accordingly.&nbsp; This may require a slightly higher down payment but your interest rate should be similar to that of an owner occupied property. Tue, 17 Aug 2010 14:32:00 GMT http://www.zillow.com/advice-thread/Can-you-buy-a-seasonal-home-if-planning-on-turning-it-into-a-year-round-home-and-primary-residence/362501/ 2010-08-17T14:32:00Z Great Question - The answer ... http://www.zillow.com/advice-thread/Can-you-buy-a-seasonal-home-if-planning-on-turning-it-into-a-year-round-home-and-primary-residence/362501/ Great Question - The answer is not - It really is a case by case basis.&nbsp; Some properties do not have the infrastructure to support year round living such as a road or utilities.&nbsp; You have to also take into consideration zoning rules and regulations.&nbsp; With that said if you do your homework you may be able to find a property that could be converted.&nbsp; I see you are in Damariscotta.&nbsp; I know some great agents in that area that I could refer you to help you with the process.<br/><br/>Tiffany Tue, 17 Aug 2010 14:30:00 GMT http://www.zillow.com/advice-thread/Can-you-buy-a-seasonal-home-if-planning-on-turning-it-into-a-year-round-home-and-primary-residence/362501/ 2010-08-17T14:30:00Z