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Updated over 2 years ago on . Most recent reply

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Mian Wang
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Condo buying in progress, but complex has over 50% rental units

Mian Wang
Posted

Hi everyone, 

We're recently in progress in buying a condo unit in Springfield MA area, hoping to do long term or midterm rental.  


We currently got the appraisal in hand and found out the condo complex has over 50% rental units.  Will this affect our ability to get a loan??  When I bought another condo two years ago, I was required to put down 25% because the complex had more than half of  tenant occupied units. 

We're planning to put down 15% for this condo.... any similar experiences or insights you can share would be appreciated!! Thank you !

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