Non-Owner Occupied Properties

Non-owner occupied properties are real estate investments where the owner does not live in the property. Instead, these properties are rented out to tenants or used for other income-generating purposes. Examples include rental apartments, vacation homes rented seasonally, or commercial buildings leased to businesses. Lenders and investors often view these properties differently from owner-occupied homes because they involve additional risks and management responsibilities. Typically, financing terms for non-owner occupied properties are stricter, with higher down payments and interest rates, reflecting the investment nature of these properties rather than primary residences.