Yep, owner occupied was my standard as well. I wound up buying a modest 2000 sf house built in 1940 in a safe, well established neighborhood. I am kneed underwater, but not nearly as bad as if I bought one of the McMansions or ghost town condos the realtor was pedaling. Plus, I am happy to live and grow my family here until it turns around.
I had bought before the bubble, in an area that was affordable; rates fell soon afterwards, so I was able to refinance a low price at a low rate. I know I was just lucky with timing, but before we bought the house we were about to move into an apartment because prices were a bit high. We got lucky in finding this one, and haven’t missed a payment in over 10 years.