Primary Residence
Defined by Onias Derilus, Mortgage Capital · NMLS# 1859012 · Florida licensed mortgage broker
A primary residence is the home you live in most of the year. It qualifies for the lowest mortgage rates, smallest down payments, and tax benefits like the homestead exemption.
What Primary Residence means
Lenders price loans by occupancy because owner-occupants default less often than investors. Primary residences get the best terms. Most programs require you to move in within 60 days and live there at least a year. Misrepresenting occupancy is mortgage fraud.
Florida example
A first-time buyer in Orlando financed a primary residence with 3.5% down on an FHA loan and filed for Florida's homestead exemption, cutting the taxable value by $50,000 and capping annual assessment increases.
What it is
A primary residence is the home you live in most of the year. Lenders treat it as the lowest-risk type of property.
That earns the best rates and lowest down payments.
Why it matters
Financing a primary residence unlocks the strongest loan terms. It is why occupancy is a key question.
We help you lock in the best primary-home terms. Apply now and we will find your lowest rate.
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