Do I have to live at my Owner-Occupied home every day

3 Replies

When purchasing a home using an owner occupant loan, Do you have to sleep at that house every day? I know it is a weird question. Here is the scenario, my lender has approved of renting my rooms out through an owner occupant loan, as long as I live there. This will be my first and only residence for atleast 1 year. However, my parents are suffering from medical conditions and I need to stay with them 5 nights a week. I intend to be at the house I purchase every day, and sleep there 2 days a week. All of my belongings will be there. I will not be changing my address in any way shape or form. This will be my only house, which I access every day. I am NOT trying to cheat the system. I just want to make sure I am complying with all rules. I told my lender the situation, she says "there is no amount of days you must sleep there, you must simply use this as your primary residence" This will only be temporary, as my parents are slowly making a recovery from their conditions. Thanks for the help

@Joshua Hollandsworth this seems to be ok with either a government loan or a conventional loan.  Both have slightly different requirements on you living at your property but based on your description above you should be ok in whatever loan type you have.