Legal Question in Real Estate Law in California

At least one borrower signing for the loan must occupy the property for it to be considered owner-occupied. They must move in within 60 days of signing for the mortgage and continue living there for at least one year. Additional rules apply to condominiums. Exceptions apply to hardship situations such as when your move-in is delayed by the need for repairs or you have to move out early due to a job change. A good-faith intention to use the home as your principal residence is the key.

I agree with Mr. Whipple. The terms are usually in the paperwork that you are provided.