University of South Florida: What does principal-residence financing mean under Fannie Mae guidance?
DIRECT ANSWER
A principal residence is a property the borrower occupies as their primary residence; occupancy classification affects eligibility and pricing and must be represented accurately to the lender.
Sources & verification
- selling-guide.fanniemae.com Fannie Mae Selling Guide
What else would you like to know?
Ask a question to get the answer first. CH2 opens a tool or broader page directly only when you ask to use or view it.