Buy Primary Residence When You Already Own One

Occupancy plays a key role in the home loan process.  In fact, lenders take extra steps to verify a buyer occupies the new home as they stated they will.  Buyers seeking the purchase of a primary home in the same marketplace they own another primary residence in are subject to extra scrutiny. Define Your Motivation Financing a new primary home within the same marketplace you currently own a primary in requires some extra explaining.  First, underwriters want to know why.   Why are you … [Read more...]