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owner-occupied?

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ikauni Joined: 01 Nov 2009 Posts: 1 1.32 Dollars($)	Posted: Sun Nov 01, 2009 2:08 pm    Post subject: owner-occupied? Like 0 Dislike 0 We have a two-unit building. One unit is rented out to non-owners to live in. The other unit is open and used for administration and other business , by me, the owner. Is this considered "owner-occupied" even though the I do not actually live in the second unit - just use it for daily business? Thanks!!
eric1 Community Expert Joined: 04 Jan 2009 Posts: 1511 226.89 Dollars($)	Posted: Sun Nov 01, 2009 5:57 pm    Post subject: Like 0 Dislike 0 No, owner occupied means you actually live there. _________________ Eric JFree Rate Quote, Stated Income Loans FHA RATE QUOTE Mortgage Rate Quote
jenkin7 Joined: 04 Jun 2007 Posts: 4537 Location: Hawaii 728.43 Dollars($)	Posted: Sun Nov 01, 2009 10:45 pm    Post subject: Like 0 Dislike 0 Hi ikauni, You will have to live in the property. Otherwise it will not be considered as owner occupied. Occupying the unit for business purposes on a daily basis does not qualify it as an owner occupied property.

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