Occupancy & Multiple Properties
Primary, second-home and investment-property loans can look similar on the surface, but occupancy changes pricing, LTV, reserves, documentation and sometimes eligibility.
Explore Occupancy
Primary residence
What counts as owner-occupied and when one borrower can occupy.
Second homes
Personal-use requirements and common red flags.
Investment properties
Rental use, LPA/DU, reserves and pricing differences.
Multiple financed properties
How property count affects eligibility and reserves.
Non-occupant borrowers
Co-borrowers who help qualify without living in the property.
Current home pending sale
When the old PITIA may still count.
Departing residence conversion
Turning the current primary into a rental.
Occupancy misrepresentation
Why “just call it a primary” is never a legitimate strategy.
Official guide baseline
Fannie Mae Selling Guide · Freddie Mac Seller/Servicer Guide
Occupancy must reflect the borrower's actual intended use. Misrepresenting occupancy can constitute mortgage fraud.