Whether a loan is consumer or business purpose is all about what the borrower will do with the loan proceeds and nothing to do with what a purchaser might do with the property. I agree with Kaybee. Unless your borrower is in the business of buying and selling dwellings, this appears to be a personal (read: consumer) loan.
John S. Burnett
Fighting for Compliance since 1976
Bankers' Threads User #8