True or False: A beach house occupied for a month during the summer is considered non-owner-occupied for the rest of the year.

The statement that a beach house occupied for a month during the summer is considered non-owner-occupied for the rest of the year is false. In the context of lending and property classification, a property is considered owner-occupied if the owner uses it as their primary residence for a significant portion of the year. Merely occupying the property for a month does not change its classification for the entire year.

If an owner uses the beach house as their primary residence for part of the year even if it's just for one month, it still reflects some level of owner occupancy. The distinction between owner-occupied and non-owner-occupied properties is crucial for lenders as it impacts the terms and conditions of loans, including interest rates and down payment requirements. Non-owner-occupied status typically applies to properties that are rented out or otherwise not used as the owner's main residence, which is not the case if the owner occupies it, even briefly. Therefore, the correct answer reflects the accurate assessment of occupancy status.