That was one thing that turned me off about the CalHFA loans … “must be owner occupied”. I would want the option to rent out the place if I moved away, personally. 🙂
The closest you can come to renting it out is having a roommate, or maybe saying that you are on business trips a few months out of the year, LOL.
On a serious note, I wonder how often they actually inspect properties to verify that the owner is indeed occupying them?
