Back to Glossary
Non-Owner Occupied
January 19, 2023
Non-owner occupied is a term used in mortgage origination, risk-based pricing, and housing statistics for one- to four-unit investment buildings. The categorization indicates that the owner does not live on the property. Non-owner occupied is not a phrase commonly applied to multi-family rental structures such as apartment complexes. Non-owner occupied is a real estate categorization that indicates that the owner does not use the property as their primary residence. The correct designation of a property as non-owner occupied is critical for lenders to determine the interest rate they will charge borrowers and ensure they are fairly paid for the risks they face when lending money.
Related Topics
10 Best Home Builders in Nashville, TN: Find Your Dream Home Today
Wesley Mortgage 2023 Year-In-Review
What Is a Property Tax Lien
What Is an Adjustable Rate Mortgage (ARM)?
Navigating the Process of Mortgage Modification
What Is Non-Recourse Lending?
What Is a Short Sale?
When Is the First Mortgage Payment Due?