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Reminders: 60 Day Rent Back OK; Owner Occupancy Ratio For Condos

A couple quick reminders:

60 Day Rent-Backs are almost always allowed. Owner-occupant buyers must take possession of a property within 60 days, or they will not be allowed to garner superior owner-occupied financing terms.

Owner-occupancy ratios in condo complexes are irrelevant if a borrower is buying as an owner occupant; ratios can be well under 50%. If a buyer is an investor, the owner-occupancy ratio needs to be over 50% in most cases.

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