Purchase · 4 min read
Do I have to live in the house I am financing?
August 22, 2026 · Written by Bill Egan, NMLS 7342
Short answer
If the loan is priced as a primary residence, yes. You intend to live there, usually within about 60 days after closing. A second home and an investment property are different loans, with more money down and different pricing. Saying you will live there when you will not is occupancy fraud. Egan Financial Group LLC originates the occupancy you actually plan to use.
01
Why this comes up
You want the primary-residence down payment and rate. You also want to rent the place, live with family for a while, or buy near a job you might not take. You asked because the difference in cash to close is huge, and you do not want to pick the wrong box on the application.
02
Where this goes wrong
You close as an owner-occupant and never move in. Insurance, property tax treatment, and the investor all treat that as a problem. Or you try to switch to investment terms mid-file, and the down payment you already brought is no longer enough. The contract is signed. That is how a story about “just for a year” becomes a failed closing.
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What we do about it
We ask where you will live, and we document it. If the house is an investment, we price an investment loan. Egan Financial Group LLC will not originate a primary-residence loan on a story the occupancy cannot support.
04
How to get ready
Be honest about where you will sleep after closing. If you need an investment or second-home quote, ask for that quote. VA and FHA have their own occupancy rules, and we will walk those separately. Do not sign an occupancy affidavit — a sworn statement that you will live there — if you cannot keep it.