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What is the definition of a "Primary Residence"?

July 14, 2003


Subject:  Definition
Date:  Mon, 23 Jun 2003
From:  Justin

I own a home in Oregon. I lived there for 1.5 years. I just moved to California, and want to streamline refinance through FHA my home in Oregon.

What is the definition of a "Primary Residence?" Since I was living in the home for at least half of the year, does this still qualify? Or would the Oregon residence no longer be my primary residence?

Thanks,
Justin

Answer

Date:  Mon, 7 Jul 2003

Hello Justin,

From a tax point of view, your primary residence is determined by where you live and work. It appears to me the Oregon residence won't qualify. Try asking the person who will assist you in processing the loan.

Good luck!
Mike Gray

We have more answers to frequently asked real estate tax questions! We also offer up-to-date information about new tax real estate tax developments in Michael Gray, CPA's Real Estate Tax Letter.

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What is the definition of a Primary Residence?

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