The phrase "owner occupancy" means that the person who owns a property or home lives in it themselves instead of renting it out to someone else. Full definition
In short, these lenders will want to see a financially sound condo development with a high percentage of owner occupancy and low percentage of delinquency on fees. (rismedia.com)
It explores topics like: Owner occupancy requirements, limits on commercial space in condos, investor ownership limits, and condo hotel rules. (nar.realtor)
Secondary financing and grant programs typically have eligibility criteria including income limits and rules concerning owner occupancy of the home being purchased. (fhaloanpros.com)