Sentences with phrase «occupy the home as»

They also require you to take a homebuyer education course and occupy the home as your primary residence.

For home purchases, in order to obtain a VA loan, you must certify that you intend to occupy the home as your principal residence.

You must meet all the requirements (age 62 or older, occupying the home as the primary residence, etc.) to be eligible, as long as your property meets HUD requirements.

Stops occupying the home as their primary residence or leaves the home for more than 12 consecutive months.

Reverse mortgages do not require monthly payments and do not become due until the last borrower no longer occupies the home as their primary residence or fails to meet the loan obligations.5 Retirees may be able to improve their monthly cash flow and live a more comfortable lifestyle, by using a reverse mortgage to pay off their home or simply access their home equity to supplement their retirement income.

A reverse mortgage requires borrowers to continue occupying the home as their primary residence.

All homeowners on the note must be at least 62 years of age and occupy the home as their primary residence.

Unlike a traditional mortgage, home equity loan, or home equity line of credit (HELOC), a reverse mortgage allows senior homeowners to access a portion of their equity without ever having to make a monthly mortgage payment.3 The loan proceeds are not taxed as income, or otherwise, 4 and do not become due until the last borrower or qualifying non-borrowing spouse no longer occupies the home as their primary residence.3

As long as you occupy the home as your primary residence, your single family home could qualify.

If the last borrower no longer occupies the home as their primary residence, then the loan becomes due and payable — This can be a limiting factor.

Capital Gains with No Income Tax: Once every two years, single homeowners can accept a tax - exempt profit up to $ 250,000, as long as they owned and occupied the home as a principal residence during any two of the last five years before they sold.

The IRRRL requires only previous occupancy to satisfy the VA and lenders, but veterans looking for a Cash - Out must intend to occupy the home as their primary residence.

A reverse mortgage becomes due when the borrower fails to meet the loan obligations or no longer occupies the home as their primary residence.

Last year 4,343 Texas homeowners tapped into their home equity using a reverse mortgage loan.3 Unlike a traditional mortgage, a reverse mortgage allows senior homeowners to access a portion of their equity without ever having to make a monthly mortgage payment.4 The loan proceeds are not taxed as income, or otherwise, 5 and do not become due until the last borrower or qualifying non-borrowing spouse no longer occupies the home as their primary residence.

You must intend to occupy the home as your primary residence — no vacation homes or rentals are allowed.

Am I correct in that a buyer has to occupy the home as one of the requirements to get 203K re-hab financing.

In addition, you must occupy the home as your principal residence at least six months of the year.

When you sell the property or no longer occupy your home as your primary residence for a period of 12 months or longer, or fail to maintain the property taxes and homeowners insurance.

Buyers must occupy the home as their principal residence, but there is no requirement on how long they must live in the home.

VA loans typically require the borrower to intend to occupy the home as their primary residence.

The borrower and any co-borrowers must occupy the home as their primary residence on a permanent, year - round basis within 60 days of closing.

For home purchases, in order to obtain a VA loan, you must certify that you intend to occupy the home as your principal residence.

Borrowers may choose one of five payment options: (1) term, which gives the borrower monthly payments for a fixed period selected by the borrower; (2) tenure, which gives the borrower a monthly payment from the lender for as long as the borrower lives and continues to occupy the home as a principal residence; (3) modified tenure, which combines the tenure option with a line of credit; (4) line of credit, which allows the borrower to make withdrawals up to a maximum amount, at times and in amounts of the borrower's choosing; and (5) modified term, which combines the term option with a line of credit.

They also require you to take a homebuyer education course and occupy the home as your primary residence.

According to Green, Fannie Mae requires borrowers to sign a letter indicating their intention to occupy the home as a primary residence.

Repayment is not required as long as you occupy the home as your principal residence.

You must continue occupying your home as your primary residence and continue paying your property taxes and homeowners insurance.

When you sell the property or no longer occupy your home as your primary residence for a period of 12 months or longer, or fail to maintain the property taxes and homeowners insurance.

- I will be occupying the home as a primary residence.

As long as you continue to honor loan terms as promised, such as paying property taxes and home insurance and occupying the home as your primary residence, you can retain ownership of your home.

Borrowers must occupy home as their primary residence and pay for ongoing maintenance; otherwise the loan becomes due and payable.

The IRRRL requires only previous occupancy to satisfy the VA and lenders, but veterans looking for a Cash - Out must intend to occupy the home as their primary residence.

Hi Diane — This is Bill answering for Mike only because I know the answer:) You are correct that a buyer has to occupy the home as a requirement for getting 203k rehab financing.

Am I correct in that a buyer has to occupy the home as one of the requirements to get 203K re-hab financing.

Stops occupying the home as their primary residence or leaves the home for more than 12 consecutive months.

VA loans typically require the borrower to intend to occupy the home as their primary residence.

You will still own your home and you can stay in it for as long as you wish, provided you continue to occupy your home as your primary residence, pay your property taxes and insurance, and maintain the home according to FHA requirements.

Under the program, people who intend to occupy a home as a primary residence can submit offers during a 15 - day window without competition from investors.

A borrower may qualify if he or she: • Is displaced because of an out - of - area job transfer and was occupying the home as a principal residence immediately before the displacement.

Reverse mortgages do not require monthly payments and do not become due until the last borrower no longer occupies the home as their primary residence or fails to meet the loan obligations.5 Retirees may be able to improve their monthly cash flow and live a more comfortable lifestyle, by using a reverse mortgage to pay off their home or simply access their home equity to supplement their retirement income.

VA Home Loans in Texas: The veteran does have to occupy the home as their primary residence.

First of all you must currently occupy the home as your primary residence.

Borrowers must also occupy home as primary residence and pay for ongoing maintenance; otherwise the loan becomes due and payable.

Unlike a traditional mortgage, home equity loan, or home equity line of credit (HELOC), a reverse mortgage allows senior homeowners to access a portion of their equity without ever having to make a monthly mortgage payment.3 The loan proceeds are not taxed as income, or otherwise, 4 and do not become due until the last borrower or qualifying non-borrowing spouse no longer occupies the home as their primary residence.3

If the last borrower no longer occupies the home as their primary residence, then the loan becomes due and payable — This can be a limiting factor.

Not exact matches

As long as rental income from the property is not used to qualify and the borrower continues to occupy the property as their second home, it is not considered «rental property» and the loan is eligible as a second homAs long as rental income from the property is not used to qualify and the borrower continues to occupy the property as their second home, it is not considered «rental property» and the loan is eligible as a second homas rental income from the property is not used to qualify and the borrower continues to occupy the property as their second home, it is not considered «rental property» and the loan is eligible as a second homas their second home, it is not considered «rental property» and the loan is eligible as a second homas a second home.

You can, however, use a VA loan to refinance an existing rental home you once occupied as a primary home.

Under most programs, as long as you own and occupy your home for a certain period of time, you do not have to repay grant funds.

Not surprisingly, the inventory of homes that are owner - occupied peaked in the fourth - quarter of 2006 and has fallen 2.5 % since then — despite 30 - year mortgage rates being cut nearly in half — while the inventory of renter - occupied homes has grown 24 %, as shown in the following chart.

Sing of the King who was born as an outcast, mother unmarried, his birth far from home, born in a stable in occupied country, toddler in exile for fear of the throne.