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Mortgage glossary
Owner-Occupancy
A property the borrower intends to use as a primary residence. The borrower must give accurate information about occupancy. Rates, down payment, documents, and eligibility can differ from those for a second home or investment property.
In plain language
This term may appear in conversations, forms, or documents during the mortgage process. If something important changes in your situation, ask how it may affect your case before making a decision.
This explanation is general and educational. It is not personalized advice, a loan offer, or a promise of approval.