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Occupancy Types: Mortgage 101 Don't commit Fraud 

Jennifer Beeston
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#mortgageoccupancy #homeloan #mortgagefraud
Occupancy Types
Owner occupied, 2nd home, investment property?? The type of occupancy affects loan programs available and interest rates. In this video I define the occupancy types and cover the common misconceptions about occupancy. Just because you are a first time homebuyer does not mean they house will qualify for owner occupied financing. Check out the video for details and how to make sure you know what type of occupancy you will qualify for.
Clearly I love doing loans! Need a mortgage or want to chat about your scenario? I am licensed in 46 states for purchase and refinances. Here is how to contact me:
1) Book a call with me: calendly.com/jennifer-beeston
2) Apply for a mortgage now at www.zerostressmortgage.com If you apply please text me your full name and email address letting me know so I can look for your app:) TEXT 707-478-0637
3) Call me 707-478-0637
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Jennifer Beeston, SVP Mortgage Lending, Guaranteed Rate, Inc.
Top 1% in the nation 2016-2020
*Proudly Offering Purchase Loans + Refinances in, Alabama, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, District of Columbia, Delaware, Florida, Georgia, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Mexico, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, South Carolina, South Dakota, Tennessee, Texas, Vermont, Virginia, Washington, Wisconsin, West Virginia and Wyoming.
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Jennifer Beeston NMLS ID:247743; State License Numbers: AL - Licensed, AR - Licensed, CA - CA-DOC247743 - 413 0699, IA - 33839 , IL - 031.0054184, IN - 41478 , KS - LO.0039219, LA - Licensed, ME - Licensed, MN - MN-MLO-247743, ND - NDMLO247743, NY - Licensed, SD - MLO.08498, TX - Licensed, VA - MLO-40552VA, WA - MLO-247743 - CL-2611, WI - 247743, WY - 8203 FL
GR NMLS ID #2611 www.nmlsconsumeraccess.org
Applicant subject to credit and underwriting approval. Not all applicants will be approved for financing. Receipt of application does not represent an approval for financing or interest rate guarantee. Restrictions may apply, contact Guaranteed Rate for current rates and for more information.
All information provided in this publication is for informational and educational purposes only, and in no way is any of the content contained herein to be construed as financial, investment, or legal advice or instruction. Guaranteed Rate, Inc. does not guarantee the quality, accuracy, completeness or timelines of the information in this publication. While efforts are made to verify the information provided, the information should not be assumed to be error free. Some information in the publication may have been provided by third parties and has not necessarily been verified by Guaranteed Rate, Inc. Guaranteed Rate, Inc. its affiliates and subsidiaries do not assume any liability for the information contained herein, be it direct, indirect, consequential, special, or exemplary, or other damages whatsoever and howsoever caused, arising out of or in connection with the use of this publication or in reliance on the information, including any personal or pecuniary loss, whether the action is in contract, tort (including negligence) or other tortious action.

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5 фев 2020

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Комментарии : 52   
@robcab3725
@robcab3725 19 дней назад
Uncertainty does not negate intent
@israelmenarealty
@israelmenarealty 11 месяцев назад
Thank you Jen, GREAT teacher. Great info.
@JenniferBeeston
@JenniferBeeston 11 месяцев назад
:)
@elvisdom1601
@elvisdom1601 3 года назад
This is exactly what I needed to know. The way you explain it is so detailed and clear. Thank you so much.
@JenniferBeeston
@JenniferBeeston 3 года назад
Happy to help!:)
@caragarcia9313
@caragarcia9313 Год назад
This was a great Video. Thank you
@williamfrederickiii1683
@williamfrederickiii1683 2 года назад
With all the remote work going on, having a job in a different city should be less of a red flag.
@brianperez4364
@brianperez4364 2 года назад
What if your intent is there but it takes longer because of tenants finding a new home?
@PaulLee1990
@PaulLee1990 2 года назад
Great video, but you should clarify that it is still considered an owner-occupied home if you live on the property and still collect a nickel. A duplex, triplex or fourplex for example.
@bubie5007
@bubie5007 Год назад
A year later… wonderful. I thought the same
@robertminney6644
@robertminney6644 4 года назад
Why are you not in Missouri Miss Jennifer? I watch every one of your great and informational Videos.Thank You for what you do represent and how well in not so informed people you present your videos so we can understand at our level of knowledge. Again I salute and thank you so much!
@JenniferBeeston
@JenniferBeeston 4 года назад
Robert Minney funny you say that Robert. I applied for my Missouri license today:). I am glad you like the videos:)
@robertminney6644
@robertminney6644 4 года назад
@@JenniferBeeston You young lady are awesome ! They say great minds think alike Lol ! Thanks so much for applying in Missouri because you can surely be able to help more people who can use your facts and honesty and understand what you are saying . Thanks again!
@samm3561
@samm3561 2 года назад
There are exceptions to the owner-occupant clause.
@cielogiron
@cielogiron Год назад
Following!
@christopherhill3067
@christopherhill3067 Год назад
I’m home 16 days a year as a truck driver. How do I show I live there if I own other properties for a VA loan
@RELAXnRENOVATE
@RELAXnRENOVATE Год назад
What happens if my plans to move in, change after 55 days and I don't move in?
@tonyfitnessmotivation
@tonyfitnessmotivation 3 года назад
If you buy a duplex with a VA Loan and suppose to stay on one side. How will anyone actually know that you’re not living there but instead renting out both side ? How would they actually know that you are renting the side out? Who’s actually going to come check that ?
@JenniferBeeston
@JenniferBeeston 3 года назад
They can do their party verifications.
@tonyfitnessmotivation
@tonyfitnessmotivation 3 года назад
@@JenniferBeeston that’s something that is typically done in advance. That Example of living in Arizona and working in San Francisco is too extreme of a scenario. Most likely the person will get the property in their own city. Unless they’ve been doing this long enough and has multiple properties in different states. Unless they do a post-closing Occupancy. Even then that third party verification won’t really work. The person can Easily make their mailing address different from their home of residence, what they going to do call the home? Cell phones! They can put their names on the utilities no problem. The person can also have a talk with the tenant that way they can just say the owner live their if the mortgage company send anyone out there. So, once again how will they know?
@ThuanNguyen-wj6us
@ThuanNguyen-wj6us 2 года назад
Why is seller request buyer and buyer's agent sign the owner occupant certification form? The house is foreclosure.
@JenniferBeeston
@JenniferBeeston 2 года назад
The foreclosure may have some special terms where they only sell to owner occupied for first xyz days. Have your agent ask listing agent
@jimmyburbank
@jimmyburbank 2 года назад
How soon can you sell a owner occupied home? Do you have to wait a year to sell ??
@JenniferBeeston
@JenniferBeeston 2 года назад
You can sell whenever you want. Lenders do not control when you sell a house
@johnsonli6304
@johnsonli6304 2 года назад
If someone buy a house with owner occupied mortgage and live there, Can he rent out the unused rooms?
@JenniferBeeston
@JenniferBeeston 2 года назад
Yes
@12Dama
@12Dama 4 года назад
New Jersey Please!!!
@JenniferBeeston
@JenniferBeeston 4 года назад
Just need my prints
@aeroserge
@aeroserge 3 года назад
Well I am getting separated from my wife I already give it to her the house so I am debt free, now I am planing to get a home and I intent to live there but I'm afraid I gonna spend more time in the house with my kids rather that in my apartment that is small ... so that will be considered a primary home or a second home ?
@JenniferBeeston
@JenniferBeeston 3 года назад
Wherever you live the most is your primary home.
@cooperrogers9076
@cooperrogers9076 2 года назад
What if someone uses a first time home buyer loan and actually lives in the home, but eventually rents out a basement or a bedroom in their house all while it being their only residence. Buying for the first time is so scary and mind blowing. I just don't want to be doing anything I shouldn't.
@JenniferBeeston
@JenniferBeeston 2 года назад
That is totally fine as long as you are living there. Also after one year if you love you can turn to an investment property and you don’t have to refinance
@cooperrogers9076
@cooperrogers9076 2 года назад
@@JenniferBeeston thank you so much! I am really happy I found your channel. Take care. 😊
@cooperrogers9076
@cooperrogers9076 2 года назад
I sent you a text, as I have a couple more questions. Let me know if there's a better way to reach you.
@minbuk7296
@minbuk7296 2 года назад
@@JenniferBeeston is it one year after the move in date or the sold date? Say I have sellers rented back home for 2 months before I could move in. Thanks a lot for your useful advices
@JenniferBeeston
@JenniferBeeston 2 года назад
@@minbuk7296 one year from purchase
@nojokeauto
@nojokeauto 2 года назад
Seller is in foreclosure, Banks won’t do loan modification or refinance, realtor says you don’t have enough equity to sell your home. A investor offers to buy the home by reinstating the seller’s current mortgage and taking over the payments every month of the current FHA loan, The loan will stay on the sellers credit and is OK with it. Is this considered mortgage fraud?
@JenniferBeeston
@JenniferBeeston 2 года назад
So they are taking the property 100% out of the owners name but keeping owner on loan? The note could get called and the person on the note could end up in hot water. I would not do personally
@nojokeauto
@nojokeauto 2 года назад
@@JenniferBeeston bank now has a performing note, and seller is not going to have a foreclosure on there record and then they can go buy another house or car. The judge should be cool with it.
@valentino7133
@valentino7133 7 месяцев назад
Can the occupancy requirement be waived if circumstances have changed
@JenniferBeeston
@JenniferBeeston 7 месяцев назад
If you already own the home and then decide to move etc then it is fine. You don't have to refinance if you change occupancy type.
@paulsingh4716
@paulsingh4716 11 месяцев назад
Question: will they find out if I airbnb my property?
@JenniferBeeston
@JenniferBeeston 11 месяцев назад
Potentially
@paulsingh4716
@paulsingh4716 11 месяцев назад
@@JenniferBeeston what If it’s just here and there but you still live in it
@JenniferBeeston
@JenniferBeeston 11 месяцев назад
If you live there its fine. Its just if yuou buy saying you are going to live there and never do
@pkris2237
@pkris2237 4 года назад
I wish you work in NC
@JenniferBeeston
@JenniferBeeston 4 года назад
I am licensed in NC :)
@ReelMemeToks
@ReelMemeToks 2 года назад
I have some questions
@JenniferBeeston
@JenniferBeeston 2 года назад
Feel free to call me
@WAT-RecordsProducing-zz5wx
@WAT-RecordsProducing-zz5wx Год назад
So, it would be illegal if the person that is dead does not occupy the home and the mortgage company doesn't know that the guy died, oops your busted😂 especially if the guy died in 2016 & the refi was in 2017🤔
@JenniferBeeston
@JenniferBeeston Год назад
That’s interesting especially the 2017 part 😳💀
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