Declaring a property as a primary residence can result in lower mortgage rates or a smaller down payment requirement compared with declaring a property as a second or vacation home.
November 17, 2025
high
financial_policy
Common mortgage lending practice affecting interest rates and down payment requirements.
Mortgage lenders commonly offer more favorable lending terms, such as lower interest rates and larger seller credits, for properties designated as owner-occupied or second homes than for properties classified as investment properties.
October 24, 2025
high
financial
This describes a general lending practice used in mortgage underwriting and pricing.
Misrepresenting the intended use or occupancy of a purchased property in mortgage applications to obtain more favorable loan terms can constitute bank or mortgage fraud and may prompt criminal investigation or prosecution.
October 24, 2025
high
legal
This describes a general legal principle regarding fraudulent statements in mortgage lending contexts.
Mortgage lenders commonly require flood insurance for properties located in designated high-risk flood zones.
October 16, 2025
high
general
Lender requirements drive demand for flood insurance for homes in regulated high-risk zones.