How long must a borrower typically reside in a property to qualify for a primary residence mortgage?

To qualify for a primary residence mortgage, a borrower must typically reside in the property for at least 60 days after closing. This requirement is in place to ensure that the borrower is genuinely using the property as their primary home, which is a key factor in determining the type of mortgage and its associated terms. The 60-day timeframe establishes a clear intention by the borrower to occupy the property, which is fundamental for lenders in assessing risk and compliance with federal mortgage-related laws.

While other options reflect varying durations, they do not align with the typical requirement for establishing primary residency that lenders and regulatory frameworks generally recognize. Having an established presence in the home reinforces the borrower's commitment to fulfilling the obligations of the mortgage and distinguishes it from investment or secondary properties, which have different requirements and implications in mortgage lending.