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Mortgage Professor about primary residence: 
What Is a "Primary" Residence?
January 8, 2001, revised May 6, 2004 "I understand that lenders penalize you if the house you buy is not your primary residence. My wife's job provides us with an apartment. We want to buy a home to live in on weekends and when we retire. If we will be living in the ... more...

Rescinding a Mortgage Refinance
18 October 2004, Revised November 15, 2005 The Right of Rescission Under the Federal Truth in Lending Act, borrowers who refinance a loan on their primary residence with a lender other than their current lender, can cancel the deal at no cost to themselves within 3 days of ... more...

primary residence related definitions

Vacation Home
Vacation Home Vacation home is a seasonally occupied property that is not the primary residence of the owner. Such residences are usually found in areas with substantial opportunities for recreation or tourist activity. Vacation Home As Investment When market is ... more...

Second Home, Vacation Home
Second Home Second home is a seasonally occupied property that is not the primary residence of the owner. Such residences are usually found in areas with substantial opportunities for recreation or tourist activity. Second Home As Investment However, when market is ... more...

More about primary residence

Get Free primary residence Quotes and Estimates

Get instant on-line mortgage rate quote and closing cost estimate. Only put your loan numbers. No contact info required. Compare offers from top mortgage lenders... more...

Top 5 Methods to Manage Your Home Equity
As your home appreciates in value, you gain equity. You can look at this equity, as a portion of the value of your home, which becomes an asset that is not burdened by debt. Therefore, this is a critical financial vehicle that cannot be ignored.Let me say it another way. For most of us, your ... more...

Tips For Getting A Low Downpayment
There's also a lot of personal satisfaction in living in a home that you own. Real estate is still considered a valued investment which can have many financial advantages and tax benefits. The amount of interest you pay on a home loan and the real estate taxes you pay on your home are among the few ... more...

Reasons To Get A Home Equity Loan
Using a home equity loan really depends on what your needs, wants and desires are that prompt you to take the home equity loan in the first place.The most common reason people obtain the loan is for debt consolidation however other uses include home improvements, educational expenses, unexpected ... more...

A Quick Guide to Mortgages
Buying a dream home is one of the major milestones of any individuals life. The price of real estate is increasing day by day. The designer and flashy homes, which appeal us the most, are beyond the financial capabilities of a lot of individuals. However, this fact should not deter us from ... more...

Home Buying 101 -- The Different Types of Mortgages
When it comes to buying a home, there's a lot to learn about mortgages and credit. The terminology comes at you pretty fast, and when the terminology is new to you, it can all seem overwhelming. This article will help you make sense of it all.Fixed Rate Mortgage A fixed-rate mortgage offers an ... more...

Mortgage Banking Software
Mortgage banking software can be useful to people who are looking into buying a home. This software can help people research the type of mortgage they are looking for and can even be used during the application process. The story of Mary Hart exemplifies the uses of mortgage banking software.Mary ... more...

Refinance after Bankruptcy Bad Credit Refi Lenders
Refinancing your home mortgage following a bankruptcy may put extra cash in your pocket to help finance large home improvement projects and lower your monthly mortgage payments. On the other hand, the bankruptcy may ruin any chances of securing a low rate. In this instance, a refinancing ... more...

Consolidating Debt & Debt Reduction Without Owning a Home
You have two options to consolidate and reduce your debt if you dont own a home. First, you can use the services of a debt consolidation agency. They will negotiate lower interest rates and smaller payments. The other option is to take out a personal loan and pay off your debt. The best option ... more...

Second Home Mortgages
Many people use mortgages to apply for loans. This is useful since the credited loan is over a long period of time with a usually stable interest (except the line of credit loans). Many people that already have a mortgaged home and want to buy another one use second home mortgages.Usually, getting ... more...

How Your Auto Insurance Rates Are Determined
Your auto insurance rates are determined by a number of factors: -driving record -usage, how you are using the vehicle, work, pleasure, business -how many drivers you have and their ages -how many vehicles you have -what kind of coverage limits you want -what area you live in -your payment history ... more...

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