Condo Owner Occupancy Ratios Re-Visited; 2 to 4 Units – All But One

We had many questions on Monday about Owner Occupancy Ratios and condos, so we want to reiterate this: If a buyer intends to occupy a condo, his financing will not be affected by the owner occupancy ratio. This is the case no matter how low the occupancy ratio might be.

The occupancy ratio will not affect the rate, down payment requirement, or any other aspect of financing.

The only exception is for 2 to 4 Unit Condo Complexes. For 2 to 4 Unit Condo Complexes, all but ONE of the units must either be owner-occupied or a 2nd home.

Jay Voorhees
Founder/Broker | JVM Lending
(855) 855-4491 | DRE# 01524255, NMLS# 335646