WHen filling out the loan app, should I say that I own or rent? And why does it matter?

I technically dont do either. I am living with my fiances parents until january, and then Im going to live in the college dorms. My dad recently died and the will says that his house goes to me, but we havent put it in my name yet. I still use the mailing address there, tho, and I have alot of my stuff at the house. Should I say that I own it? What difference does it make? I dont want them to think that since I own a home that I can sell it to get money or anything.
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The Answer : Home owners are seen by lenders as more responsible then people that rent.Since it is your home, just not in your name yet you can say that you are a home owner.The only bad thing is that if you default on your loan for any reason the lender can come after you in court and place a lien on your home.