Property
Primary Residence
The main home where a borrower lives
Full Definition
Primary Residence: The main home where a borrower lives. Understanding this concept is important when navigating the mortgage process. NMHL loan officers can explain how primary residence applies to your specific mortgage situation.
Why It Matters
Understanding primary residence helps you make informed decisions about your mortgage. This knowledge can save you money and help you avoid common pitfalls in the homebuying process.
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Frequently Asked Questions
Primary Residence refers to the main home where a borrower lives. This is an important concept in mortgage lending that affects how your loan works.
Understanding primary residence can help you make better decisions about your mortgage. Contact NMHL for personalized guidance on how this applies to your situation.
Ready to Put This Knowledge to Work?
Connect with an NMHL mortgage expert who can help you navigate the mortgage process.