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Updated over 7 years ago on . Most recent reply

Does an Office space count as owner-occupied?
I have recently been told that a property owner can qualify for a conventional loan (which requires the owner to occupy the property) by maintaining an office on the property. For example, a landlord owns a duplex, and builds an office space in the basement.
The information came directly from a bank (not sure what the role of the banker was).
I'm very skeptical, given the prominent use of "primary residence" all over the rules I've seen--though I can imagine some smaller banks that don't sell off their loans might be willing to allow it.
Does anyone have any solid experience/evidence on one side or the other?
Thanks!