24 CFR § 206.39 - Principal residence.

---
identifier: "/us/cfr/t24/s206.39"
source: "ecfr"
legal_status: "authoritative_unofficial"
title: "24 CFR § 206.39 - Principal residence."
title_number: 24
title_name: "Housing and Urban Development"
section_number: "206.39"
section_name: "Principal residence."
chapter_name: "OFFICE OF ASSISTANT SECRETARY FOR HOUSING—FEDERAL HOUSING COMMISSIONER, DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT"
subchapter_number: "B"
subchapter_name: "MORTGAGE AND LOAN INSURANCE PROGRAMS UNDER NATIONAL HOUSING ACT AND OTHER AUTHORITIES"
part_number: "206"
part_name: "HOME EQUITY CONVERSION MORTGAGE INSURANCE"
positive_law: false
currency: "2026-03-24"
last_updated: "2026-03-24"
format_version: "1.1.0"
generator: "[email protected]"
authority: "12 U.S.C. 1715b, 1715z-20; 42 U.S.C. 3535(d)"
regulatory_source: "82 FR 7117, Jan. 19, 2017, unless otherwise noted."
cfr_part: "206"
---


# 206.39 Principal residence.

(a) The property must be the principal residence of each borrower, and if applicable, Eligible Non-Borrowing Spouse, at closing.

(b) *HECM for Purchase.* For HECM for Purchase transactions, each borrower, and if applicable, Eligible Non-Borrowing Spouse, must occupy the property within 60 days from the date of closing.