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.