Primary residence occupancy | Reverse Mortgage Glossary
Primary residence occupancy
You must live in the home most of the year; extended absence can default the loan.
Plain English
You must live in the home most of the year; extended absence can default the loan.
Everyday analogy
Think of this as one piece of a loan puzzle. See our complete glossary or what is a reverse mortgage guide for context.
When this is NOT a good fit
Understanding terms does not mean a reverse mortgage is right for you. Review our eligibility and foreclosure guides before deciding.