Property
Owner-Occupied
A property used as the borrower primary residence
Full Definition
Owner-Occupied: A property used as the borrower primary residence. Understanding this concept is important when navigating the mortgage process. NMHL loan officers can explain how owner-occupied applies to your specific mortgage situation.
Why It Matters
Understanding owner-occupied 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
Owner-Occupied refers to a property used as the borrower primary residence. This is an important concept in mortgage lending that affects how your loan works.
Understanding owner-occupied 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.