WebMar 8, 2024 · Minimum down payment for an investment condo loan is 15% down payment Full Review On Condo Purchase The criteria for a full review is that the condominium needs to have 51% or more of its units be an owner occupant. This means it needs to be a warrantable condominium unit. No single person or entity can own more than 10% of … WebSep 28, 2024 · No matter how the condo project arranges ownership, the rules for being a warrantable condo remain the same. Warrantable condos must meet the following requirements at a minimum related to their ownership and governance. At least 10% of the annual budget must go to reserves. At least half of the units must be owner-occupied.
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Determining Condominium Project and Mortgage Eligibility
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