Real estate law--intent to occupy?

YOur credit score impact should be the least of your worries. Since you signed an intent to occupy, I ume that the loan you received requires the home to be owner occupied. When you inform your lender that you are going to rent it out, it is going to cause them to call the note due, you will have 30 days to refinance out of this owner occupied rate into an investment property loan. Expect that rate to be around 7% interest, you'll get to pay all the closing costs again to refinance into this shiny new loan when you just paid thousands in closing costs for the loan you no longer qualify for.