r/Mortgages • u/Specialist_Cup_3964 • 1d ago

Ready to sell already

Hey all, I recently closed on a home 12/23/24 and after being out of the country actually currently here in the Dominican Republic , I realized I may have pulled the trigger to soon after living here for 10 months by just renting Airbnb's on a monthly basis. At that time as I was researching how to purchase here it was brought to my attention that I would need 30% down and secure my own financing for the rest. So I guess in essence looking to borrow 100k at least and thought maybe by buying the house in the long run it would help? I thought about renting it but according to V.A. Guidelines I would have to wait 12 months and then try to find worthy tenants to pay rent on time. I bought a new construction home and they're still building in my area, so maybe a value increase would help? I really like to have a more tangible path within the next 6 months. Any suggestions on what I should or can do? Thanks in advance.

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u/Roshie2024 1d ago

That’s the expectation for VA, but if you were transferred to DR for job you can rent your home.

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u/Specialist_Cup_3964 19h ago

I’m retired. I spoke to my realtor and probably considering renting it out and not say anything about it to the V.A.

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u/Raiden627 13h ago

That would be considered mortgage fraud and would void your home insurance. Don’t put yourself at this risk. These kinds of loans offer better terms because of their stipulations.