Ace the Illinois Real Estate Exam 2025 – Unlock Your Property Pro Potential!

The FHA 203(b) loan program is specifically designed for individuals who are looking to purchase a home for personal occupancy. This program allows borrowers to secure low down payment financing and is aimed at making homeownership more accessible for those intending to live in the property. Therefore, it is most likely that John, who is using this type of financing, will occupy the property as his primary residence.

In contrast, the other options suggest uses for the property that do not align with the purpose of the FHA 203(b) program. Renting out the property would typically require different financing, as many mortgage programs stipulate that properties financed through them must be owner-occupied. Selling the property immediately does not align with the intent of homeownership promoted by the FHA. Lastly, using the property for commercial purposes is outside the scope of the FHA’s residential financing options, as the program focuses on properties that are intended for residential use.