Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 54%
$32.50 /mo
$390 billed annualy
MONTHLY
$69 /mo
billed monthly
7 day free trial. Cancel anytime
×
Take Your Forum Experience
to the Next Level
Create a free account and join over 3 million investors sharing
their journeys and helping each other succeed.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
Already a member?  Login here
Private Lending & Conventional Mortgage Advice
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 7 years ago on . Most recent reply

User Stats

74
Posts
11
Votes
Bruce Olsen
  • Lender
  • Pasadena, CA
11
Votes |
74
Posts

Does an Office space count as owner-occupied?

Bruce Olsen
  • Lender
  • Pasadena, CA
Posted

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!

Loading replies...