From: "huskerchen" 
Newsgroups: misc.invest.real-estate
Subject: First home as future rental property within two years
Date: 21 Jun 2005 20:58:58 -0700
   posting-account=Occoog0AAADUEkEQV3-Xubne7nMm4Kaw

Hi, I am thinking of buying a condo which has a good location, but I
don't plan to stay for more then two years. I have good credit score
and a stable job, and I am pre-approved for 350k loan. I don't want to
stretch too much, so my plan is to buy the condo (at around 150k), and
a year later when my wife finish school and get a job, we can buy a new
house. Here are my questions:

1) will my mortgage in the condo affect the new house I am going to
buy? For example, suppose I am qualified for 350k loan, but I buy a
condo for 150k. A year later I decided to buy a house, will I still be
able to get a loan for 350k if I keep the condo as a rental property?
How the mortgage will affect my next house buying?

2) Since I am very sure I won't stay in this condo for more then two
years, should I buy it as my first home, or should I buy it as a rental
property directly? I heard people talking about rental property
occupied by owner. Since the interest rate is higher for rental
property, what is the advantage of the "owner occupied rental
property"?

Thanks,
Y.Chen