---
kind: "section"
citation: "24 C.F.R. § 1005.403"
title: "24"
number: "1005.403"
heading: "Principal Residence."
url: "https://uscodex.org/cfr/24/1005.403"
---

# §1005.403. Principal Residence.

- (a) **Principal Residence.** Means the dwelling where the Indian Family Borrower maintains as a permanent place of abode. An Indian Family Borrower may have only one Principal Residence at any one time.
- (b) **Occupancy requirement.** An Indian Family Borrower must occupy the property as a Principal Residence. Borrowers who are a TDHE or a Tribe do not need to occupy the property as a Principal Residence and are not subject to the occupancy requirement.
- (c) **Non-occupant co-Borrower.** A co-Borrower who does not occupy the property as a principal resident is permitted and is not subject to paragraphs [(a)](#a) and [(b)](#b) of this section. A non-occupant co-Borrower must be related by blood, or an unrelated individual who can document evidence of a family-type, longstanding, and substantial relationship not arising out of the loan transaction. A non-occupant co-Borrower must meet all other applicable requirements of this subpart and any requirements as may be established in [Section 184](/cfr/24/184.md) Program Guidance.

## Notes

### Authority

Authority: 12 U.S.C. 1715z-13a; 15 U.S.C. 1639c; 42 U.S.C. 3535(d).

### Source

Source: 89 FR 20056, Mar. 20, 2024; 89 FR 22084, Mar. 29, 2024, unless otherwise noted.