(As used in EIA's consumption surveys.) Having the owner or the owner's business represented at the site. A building is considered owner occupied if an employee or representative of the owner (such as a building engineer or building manager) maintains office space in the building. Similarly, a chain store is considered owner occupied even though the actual owner may not be in the building but headquartered elsewhere. Other examples of the owner's business occupying a building include State-owned university buildings, elementary and secondary schools owned by a public school district, and a post office where the building is owned by the U.S. Postal Service.
Refers to a building that has the owner or the owner’s business represented at the site.
A property that will be used by the borrower as his/her primary residence.
A term used when referring to a dwelling in which the owner resides in either as a primary or secondary residence.
Designation given to property used as the owner's residence.
The property is the primary residence of the owner.
Property physically occupied by the owner(s) of record.
A property is considered "owner occupied" if it becomes the borrower's primary residence within 60 days of loan closing and the borrower continues to occupy it for one year.
A property that meets the following requirements: -Owners reside in the mortgaged premises, using it as a primary residence; -property is listed by owner of record (by deed).
Some loans are granted on the condition that you live in the home yourself. Lenders assume that a tenant might neglect the maintenance of the home, thereby lowering its value and making it harder to recover their funds in case of foreclosure.
A property in which the owner resides.
The principal residence of the property's owner. How is this further defined? See Realty Times article, What's Your Principal Residence? Tax Experts Not Always Certain
A property in which the owner lives.
Any property where the owner resides in all or part of the property.
This means that you own it and you're living in it, as opposed to it being rental/investment property. Payment Cap A provision of some ARM's limiting how much a borrower's payments may increase regardless of how much the interest rate increases; be aware that on some ARM's this may lead to "negative amortization."
The state of property wherein the owner occupies at least some portion of the property.
Property physically occupied by the owner as their residence.
A term describing a property that is used as the owner's primary residence.
An owner occupied purchase is a 1-4 unit property owned by an individual who will also live in the property as a primary residence.
"Owner Occupied" means the property is the owner's primary residence.
A property in which the owner is also the resident of the property.
Owner occupied is a classification of UK housing tenure as described by the Department for Communities and Local Government, a UK government department that has amongst its remit the monitoring of the UK housing stock.
