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Can a vacation home be used for rental purpose if not mentioned while taking out the mortgage loan?

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While buying a second home, is it necessary to declare whether it will be used for a vacation home or a rental property? Can it be used for rental purpose if not mentioned previously?

NO, but you have to pay taxes. Consult to an expert

Sub: #1 posted on Sat, 09/23/2017 - 16:14

sanderspatricia29 sanderspatricia29

(Posts: 497 | Credits: 53.02)

Lying about whether a home is a second home or an investment property is mortgage fraud. If you're found out, you could face heavy fines.

Sub: #2 posted on Mon, 09/25/2017 - 13:37

tiarajoseph11 tiarajoseph11

(Posts: 254 | Credits: 37.61)

You should mention the right thing to avoid facing unpleasant consequences later.

Sub: #3 posted on Mon, 09/25/2017 - 17:37

Good Nelly Good Nelly
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(Posts: 2616 | Credits: 527.57)

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