In a multipurpose transaction, the transaction meets the definition of a residential mortgage loan if any part of the loan proceeds will be used to finance:

This option refers to financing a property that is not the borrower's primary residence but rather a secondary home. Loans for second homes do not meet the specific criteria for residential mortgage loans, as they are intended for properties that are not the main dwelling.

Investment properties are purchased with the intent of generating rental income or profit, distinguishing them from residential mortgage loans. Such loans do not qualify as residential mortgages because they are not intended for personal occupancy, which is a key requirement for the definition.

While a manufactured home can serve as a primary residence, the context of it being in a mobile home park adds complexity. Not all manufactured home loans are classified as residential mortgage loans, particularly if the property is not designated for permanent occupancy or is subject to different financing regulations.