Last amended:2017Year:2026Length:48 wordsSubsections:2Official source
Cite as 24 C.F.R. § 206.39 (2026)
(a) The property must be the principal residence of each borrower, and if applicable, Eligible Non-Borrowing Spouse, at closing.
(b)
HECM for Purchase.
For HECM for Purchase transactions, each borrower, and if applicable, Eligible Non-Borrowing Spouse, must occupy the property within 60 days from the date of closing.
24 C.F.R. § 206.39: Principal residence. | Justis AI