How soon must the borrower occupy the property in a HECM purchase loan?

The property must be occupied within 60 days of loan closing.

Mortgagee Letter 09-11 is available at https://www.hud.gov/program_offices/administration/hudclips/letters/mortgagee

All policy information contained in this knowledge base article is based upon the referenced HUD policy document. Any lending or insuring decisions should adhere to the specific information contained in that underlying policy document.


Topic Number: KA-02172