FAQ – Can I have more than one Primary Residence?

One of the most misunderstood occupancy types by lenders and underwriters alike is the Principal Residence versus Second Home or Investment Property.

With more and more Americans working from home, telecommuting or even actual commuting to places such as oil fields and over the road truckers, now more than ever lenders and borrowers alike need to have a good understanding of how Fannie Mae (FnMa) defines a principal residence and under what circumstances a person is allowed to have more than one. If you’re asking yourself this question because you’re planning on hopefully gaining a residency permit in another country, make sure to do all the research needed, such as the requirements of you needed for the permit application, what permit you should apply for, whether or not you qualify for their taxation system and how to go about sorting out your finances in both countries, and what you ultimately need to do to organise a residence permit.