The Mortgage Dictionary provides a comprehensive yet simple review the differences between the three occupancy classifications for residential mortgage financing. Definitions of owner occupied (primary), secondary (vacation), and investment (non-owner occupied or rental) properties are given. If you're asking, "is this a second home or investment?," this video goes through the differences and how to address interest rate adjustments associated with rental property. More specifics and for mortgages in Marin County and all of California, contact Rob Spinosa at 877.270.5959 or rspinosa@rpm-mtg.com.
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