LENDER TELLS ME I NEED 70LTV OR TO BACK OUT

[Nataly Soto]

I need inputs from experts here. I am buying my first Condo as an investment property. I am literally 6 days away from signing. Everything was going pretty smooth, until today. I received a call from my lender explaining that because the Community HOA said that over 50% of the units are NOT Owner Occupied, we must put down 30% down and not 20%. Have you guys heard this? I believe the lender mentioned this is part of a Fannie Mae requirement.

Any insight on here is helpful