Primary-residence Sentence Examples
If the couple owns a primary residence as well as a vacation property that are equal in value, the couple may agree that one person should keep the house and the other one will retain ownership of the vacation property.
If applying for a Home Keeper Mortgage, homeowner must occupy the home as their primary residence.
For this reason, you will probably find the application process for an investment home more complex than the process you encountered with your primary residence.
Borrower should use the home as a primary residence.
You are not expected to make payments on the reverse mortgage as long as you use the home as your primary residence.Advertisement
The home should be the applicant's primary residence and not a rental or vacation home.
You need to know what mortgage qualifies as an investment and what mortgage qualifies as a primary residence.
With all the changes in real estate in Minnesota, this can also be a good time for individuals looking for a property either for investment purposes or as a primary residence.
The mortgage is forgiven once the homeowner meets the requirement of occupying the property as his or her primary residence for a minimum of ten years.
One stipulation is that it must be your primary residence.Advertisement
The payment on a reverse mortgage comes due when the borrower moves out of the home as a primary residence or dies.
In fact, in instances when the homeowner stays in the home as a primary residence until death, the homeowner never makes a single payment.
The home must be the homeowner's primary residence.
The property may only be used as a primary residence.
You are about to move from your home, but you are going to maintain the home as a rental property, and you want to lower the monthly payments as much as possible before you no longer hold it as a primary residence.Advertisement
The home must be your primary residence.
In other words, risking a primary residence or a retirement account in order to invest in investment property can result in losing everything brought to the equation.
It's easier to obtain 100% financing for a primary residence than for an investment property.
All things considered, your rate may only be slightly higher than an individual applying for a mortgage for a primary residence if you meet certain requirements.
While there are certain qualifications for purchasing HUD housing, nearly anyone can purchase such a home, especially those buying the house as their primary residence.Advertisement
Government loans for first time home buyers provide mortgage insurance for families who plan to purchase their first, primary residence.
However, the property must be the primary residence of at least one of the co-borrowers.
Mortgage brokers are commonly used by people who want to purchase residential structures, either as a primary residence or even as an investment home that will be rented out or resold after some repairs and improvements.
When stated income loans were popular, some individuals lied to qualify for a mortgage they could not actually afford in order to buy a primary residence or to flip an investment property they believed would make them rich.
Homeowners are statistically more likely to default on homes that are rented out than they are on their primary residence.Advertisement
In addition to purchasing a home within the specified period of time, the taxpayer must have been older than 18 and have been purchasing a home for use as their primary residence.