Occupancy Affidavit (1 year?) for a Second Home conventional loan

[Pavel Bennett]

Hi folks,

I'm closing on a property in Hawaii using a Second Home conventional loan and intend to live there for at least a part of the year. My lender sent me a bundle of documents to preview before signing and I am not sure if the wording on this "occupancy and financial status affidavit" is correct (for the Second Home section):

While it has the "for at least 1 year" wording for the Principal Residence, this wording is missing from the Second Home section. There is also a Second Home Rider in the bundle and that one correctly states that it will be used as a second home "for at least one year". I would be signing both documents.

My concern is that what I pasted above (from the occupancy affidavit) technically leaves the effect duration ambiguous. As it is written, it sounds like even if on year 5 of ownership, I don't use it as a second home but instead choose to rent it out, I'd be violating this affidavit, but that goes against what I understand about second home loans and also against the Second Home Rider.

Is this okay to sign as is or should I ask the lender to amend the document by adding "for at least 1 year" to the Second Home section? It's apparently some standard form, at least for this lender.

Thanks in advance :)