When you sign an owner occupancy when purchasing a home. How long do you commit to that owner occupancy?

Asked by Momt, Arizona Sun Jun 17, 2012

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Roswell Moore…, Mortgage Broker Or Lender, Scottsdale, AZ
Sun Jun 17, 2012
Hi Monmt,

Looks like you just went through a loan application. Have you tried asking your loan originator these questions? They should be able to answer all of them for you.

If you are buying a primary residence, you are committing to move into the home within 60 days of funding the transaction and live there for 12 months.

Please feel free to contact me directly if you have any further questions, I'd be glad to help.

All the best,
Ros

Roswell Moore, CMPS
Certified Mortgage Planner
480-422-5095 direct
http://www.ezAZloan.com

We are a Direct Lender, Mortgage Bank where we originate, process, underwrite, fund, AND SERVICE our loans, in-house, with FHA (starting at a 580 score AND still only 3.5% down), FHA Streamline loans (NO minimum credit score, NO appraisal required) Go Green rehab loans, HomePath, Investor Friendly (10 financed properties), VA, USDA, Jumbo, Conventional, plus, we allow Escrow HoldBacks!
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Steffy Hrist…, Agent, Scottsdale, AZ
Sun Jun 17, 2012
Momt,
It will be disclosed on the form where you are signing.
On FannieMae owned properties the Buyer usually commits to occupy the property for at least a year after the date of occupancy, unless extenuating circumstances arise.

Let me know if I can help you with any other questions,
Steffy


Steffy Hristova, MBA, SFR, Realtor®
HomeSmart
Tel: (480) 966-9353 Fax: (602) 507-3703
3131 E. Camelback Rd. #125
Phoenix AZ 85016

http://www.talktosteffy.com
Web Reference:  http://www.talktosteffy.com
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