Home Buying in Oswego>Question Details

Kara H. Cass…, Home Buyer in Oswego County, NY

I'm in the military, stationed overseas. If I buy a house can it be considered a primary residence even if I can't move in right away?

Asked by Kara H. Cassidy, Oswego County, NY Wed Jan 5, 2011

I currently do not own another house, and I intend to live in the property when I return to the states. My lender told me that if I cannot occupy the house within 60 days I have to apply for financing as a secondary residence, but I don't have a primary residence. Is there any exemption for military personnel?

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My understanding is you must reside in the home for more than half of the year. That is sticky regarding having to occupy the home within 60 days. If your belongings are in the home, is this considered occupying the home? A question for your Lender. Another thing to keep in mind, when you purchase you'll have a few weeks before closing-typically about a 2 month period.
0 votes Thank Flag Link Wed Feb 6, 2013
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0 votes Thank Flag Link Wed Jan 5, 2011
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