Qualified residence definition

Qualified residence means any owner-occupied class four residential dwelling that is a single-

Qualified residence means real property, but less any portion of that property that is used for commercial purposes, with an equalized assessed value of less than $250,000 that is the primary residence of a veteran with a disability. Property rented for more than 6 months is presumed to be used for commercial purposes.

Qualified residence means real property, but less any

Examples of Qualified residence in a sentence

• The Participating Lending Institution represents, warrants and covenants that it will comply with the requirements of Section 143(m) of the Code regarding certain notices to be provided to prospective Mortgagors describing potential recapture on the disposition of a Qualified Residence.

• This shall include (but is not limited to) attestations pertaining to Eligible Individual and Qualified Residence, changes of residence, inpatient facility admissions and discharges, reasons for re- institutionalization, and reasons for disenrollment from MFP.

• The Participating Lending Institution represents, warrants and covenants that it will notify each prospective Mortgagor prior to settlement of a Mortgage Loan regarding the disallowance of interest deductions that may result from a change in use of the Qualified Residence under Section 150(b)(1) of the Code.

• In connection with each Mortgage Loan, the Participating Lending Institution may charge and collect from the Mortgagor or the Seller of a Qualified Residence the appropriate Origination Fee and the appropriate Buyer/Seller Points, as specified in the applicable Program Supplement.

• Down Payment and Closing Cost Loan shall mean a loan that is (1) made to an Eligible Borrower for the payment of down payment or closing costs, or both, for a Qualified Residence, (2) evidenced by a Down Payment and Closing Cost Loan Note, and (3) secured by a Down Payment and Closing Cost Loan Deed of Trust.

More Definitions of Qualified residence

Qualified residence means homestead property, but

Qualified residence means real property, but less any portion of that property that is

Qualified residence means a dwelling unit— ‘‘(A) located in the United States,

Qualified residence means a residence that (1) is real property affixed on a permanent foundation, (2) is (i) a house which contains four or fewer residential units, (ii) a condominium unit, or (iii) a house or apartment owned by a cooperative housing; (3) is part of a qualified project which has received an allocation from a neighborhood homes credit agency, and (4) is located in a qualified census tract (determined as of the date of such allocation).

Qualified residence means a residence that:

Qualified residence means a residential housing unit located within the State intended for occupancy by a person, persons or family, the Acquisition Cost of which does not exceed the Maximum Purchase Price.

Qualified residence means a single family residence, the acquisition cost of which does not exceed the maximum purchase price.