Which form indicates that the borrower must occupy the property as their primary residence?

The correct form that indicates the borrower must occupy the property as their primary residence is the FNMA FHLML Form 3072. This form is specifically tied to loans backed by Fannie Mae and outlines the necessary borrower occupancy requirements. Fannie Mae guidelines generally stipulate that for a loan to be eligible for purchase or guaranty, the property must be the borrower’s principal residence. This requirement ensures that the borrower is using the financed property as their main living space, which is crucial for loan approval and underwriting processes.

In contrast, other forms listed may relate to different loan programs or applications. For instance, the FHA 203(k) form is primarily focused on rehabilitation loans and the necessary disclosures related to the construction aspect, rather than occupancy specifics. VA Form 26-1880 pertains to veterans seeking eligibility for VA loans but doesn't specifically dictate occupancy requirements in the same manner as the FNMA form. The Conventional Loan Application Form, while allowing loans to conform to various standards, does not singularly enforce the residency requirement as distinctly as the FNMA Form 3072 does.

Understanding the nuances of these forms and their intended purposes is essential for identifying which documentation reflects the requirement of primary residency.