Primary Residency Conditions on a Mortgage

So this is my situation....

I want to buy a 3 family house. I've been looking into different mortgage programs and some require that you live in the house of the extent of the loan however, my only problem is that I am considering moving to another state within a year or so. My plan is to live in it for the time being and then just have it as an investment and rent all three units.

Now, I was told that most conventional loans require you to live in the property for at least the first year, and they don't care what you do after that. Is this sound right? This would be exactly what I need! Is this common? Would it be hard to find a loan with these types lenient primary residency conditions?

I don't want to be tied down to the property forever and I don't want to take an investors loan since the rates would be too ridiculous and also have higher down payment.

The year thing sounds right to me. If you are unsure, you'll have to ask your lender to find out what the occupancy requirements are for your particular loan product.

I think so long as you had the intention of living there when you bought it as your primary residence and did move in, then the lender isn't going to call the loan if you were to move. Of course, I think it would be wise to be timely on payments and keep them happy. :)

Joe