Eligibility for the 95% home buyer program requires the property to be:

The correct choice is a primary residence because eligibility for the 95% home buyer program typically requires that the property be used as the homeowner's primary living space. This program is designed to assist individuals in purchasing homes that they will occupy as their main residence, providing them with more favorable loan terms and conditions, such as lower down payments.

In contrast, vacation homes, investment properties, and commercial properties do not qualify for such programs as they are not intended for occupancy as a primary living environment. A vacation home is typically a secondary residence, an investment property is meant for generating rental income, and commercial properties are used for business purposes. Thus, the focus on primary residences ensures that the program supports homeowners rather than investors or individuals purchasing properties for non-residential use.