{"ok":true,"canonical_url":"https://dealroom.so/glossary/primary-residence","api_url":"https://dealroom.so/api/public/glossary/primary-residence","data_freshness":{"sba_records_through":"2026-05-31","fdic_records_through":"2026-03-31","dealroom_last_updated":"2026-06-15","timezone":"America/Chicago"},"source_summary":["Public SBA 7(a) loan records","FDIC institution data","DealRoom lender and franchise enrichment"],"term":{"slug":"primary-residence","term":"Primary Residence","group":"Doing the deal","definition":"This is the home where you permanently live. For an SBA loan, if there's a collateral shortfall, your primary residence may be pledged as personal collateral, usually with a second mortgage.","what_it_means":"Lenders will typically take a lien on your primary residence if there isn't enough business collateral to cover the loan, provided there is sufficient equity. This is a common requirement for 7(a) loans. Ensure you understand the implications of pledging your home, as it exposes a significant personal asset to business risk.","url":"https://dealroom.so/glossary/primary-residence","official_sources":[{"slug":"sop-50-10","title":"SOP 50 10 — Lender and Development Company Loan Programs","official_url":"https://www.sba.gov/document/sop-50-10-lender-development-company-loan-programs","official_label":"View on SBA.gov","authority_tier":2,"publisher":"U.S. Small Business Administration","source_guide_url":"https://dealroom.so/sba-7a/sources/sop-50-10"}],"related":[{"slug":"personal-collateral","term":"Personal Collateral","url":"https://dealroom.so/glossary/personal-collateral"},{"slug":"collateral-shortfall","term":"Collateral shortfall","url":"https://dealroom.so/glossary/collateral-shortfall"},{"slug":"mortgage","term":"Mortgage","url":"https://dealroom.so/glossary/mortgage"},{"slug":"second-mortgage","term":"Second mortgage","url":"https://dealroom.so/glossary/second-mortgage"}],"related_questions":[{"question":"Will my primary residence always be required as collateral for a 7(a) loan?","url":"https://dealroom.so/sba-loans/basics/will-my-primary-residence-always-be-required-as-collateral-for-a-7-a-loan"},{"question":"Can I use proceeds from selling my primary residence as part of my equity injection?","url":"https://dealroom.so/sba-7a/questions/can-i-use-proceeds-from-selling-my-primary-residence-as-part-of-my-equity-injection"},{"question":"Does a foreclosure on an investment property (not my primary residence) affect my SBA 7(a) loan approval chances?","url":"https://dealroom.so/sba-7a/questions/does-a-foreclosure-on-an-investment-property-not-my-primary-residence-affect-my-sba-7-a-lo"},{"question":"What if my equity injection includes funds from the sale of my primary residence that occurred less than 90 days ago?","url":"https://dealroom.so/sba-7a/questions/what-if-my-equity-injection-includes-funds-from-the-sale-of-my-primary-residence-that-occu"},{"question":"If the business assets are not enough, will the SBA require me to pledge my primary residence as collateral for a $700,000 loan?","url":"https://dealroom.so/sba-7a/questions/if-the-business-assets-are-not-enough-will-the-sba-require-me-to-pledge-my-primary-residen"},{"question":"Can my personal residence be required as additional collateral for a larger SBA loan?","url":"https://dealroom.so/sba-7a/questions/can-my-personal-residence-be-required-as-additional-collateral-for-a-larger-sba-loan"}]},"caveats":["Definitions represent DealRoom's plain-English interpretation for buyers; verify regulatory terms against the official SBA and eCFR sources listed.","Not legal, tax, or financial advice, and not an SBA eligibility determination."],"citation":{"label":"DealRoom.so Glossary — Primary Residence","url":"https://dealroom.so/glossary/primary-residence","source_type":"DealRoom Data"}}