Port St Lucie Mortgage Experts (772) 340-4003 - What a primary residence does for you
16745
page-template-default,page,page-id-16745,bridge-core-1.0.5,qode-page-transition-enabled,ajax_fade,page_not_loaded,,qode-child-theme-ver-1.0.0,qode-theme-ver-29.5,qode-theme-bridge,wpb-js-composer js-comp-ver-6.13.0,vc_responsive
 

Primary Residence

What a Primary Residence does for you

 

mortgage - primary residence - happy family at home

 

Primary residences qualify for the lowest mortgage rates. In order for a home to qualify as your primary residence, these are some of the characteristics that must be met:

 

  • You must live there a majority of the year.
  • It must be a convenient distance from your place of employment.
  • You need documentation to prove your residence. You can use your voter registration, your tax return, etc.

 

If you plan on turning the property into an investment property within six months of closing, it must be classified this way. This could happen if you plan on having a tenant rent the property.

 

In addition to these criteria, the property must be occupied by the buyer within 60 days following closing. If the loan in question is originated through the VA and you’re on active duty, your spouse can satisfy the occupancy requirement.

 

Mortgage interest on your primary residence is deductible. If you took out your mortgage after 2006, you can also claim your mortgage insurance payments as part of the interest and deduct them.

 

That’s all, folks! Hopefully this has helped you understand a little bit more about property classification and home mortgages.

 

Give us a call with any questions.

 

More Information about owning a home and a home mortgage

 

Consumer Financial Protection Bureau
Owning a Home

CALL NOW 772-340-4003

Port St Lucie Mortgages, VA Home Loans & Mortgage Refinancing throughout the Treasure Coast and all of Florida

Port Saint Lucie • Fort Pierce • Sebastian • Stuart • Vero Beach • Sewall's Point • Palm City • Jensen Beach • Hobe Sound • Lakewood Park • Port Salerno • Fort Pierce South • White City • North River Shores • & serving all the great state of Florida

Palm Beach Mortgages, VA Home Loans & Mortgage Refinancing throughout Palm Beach County and all of Florida

West Palm Beach • Boca Raton • Boynton Beach • Delray Beach • Wellington • Jupiter • Palm Beach Gardens • Greenacres • Lake Worth • Royal Palm Beach • Riviera Beach • Palm Springs • Belle Glade • North Palm Beach • Lantana • Palm Beach • Lake Park • Pahokee • Tequesta • South Bay • & serving all the great state of Florida

Broward Mortgages, VA Home Loans & Mortgage Refinancing throughout Broward County and all of Florida

Fort Lauderdale • Pembroke Pines • Hollywood • Miramar • Coral Springs • Pompano Beach • Davie • Plantation • Sunrise • Deerfield Beach • Lauderhill • Weston • Tamarac • Margate • Coconut Creek • Oakland Park • North Lauderdale • Hallandale Beach • Lauderdale Lakes • Dania Beach • & serving all the great state of Florida

Miami Mortgages, VA Home Loans & Mortgage Refinancing throughout Miami-Dade County and all of Florida

Miami • Hialeah • Miami Gardens • Miami Beach • Homestead • North Miami • Coral Gables • Doral • North Miami Beach • Cutler Bay • Aventura • Miami Lakes • Palmetto Bay • Hialeah Gardens • Sunny Isles Beach • Pinecrest • Opa-locka • Miami Springs • Sweetwater • Key Biscayne • & serving all the great state of Florida

Florida Mortgages, VA Home Loans & Mortgage Refinancing throughout all the great state of Florida

Jacksonville • Tampa • St. Petersburg • Orlando • Tallahassee • Cape Coral • Gainesville • Clearwater • Lakeland • Deltona • Largo • Melbourne • Fort Myers • Daytona Beach • Kissimmee • North Port • Ocala • Port Orange • Sanford • Pensacola • & serving all the great state of Florida