How do I get a mortgage for the property with low owner occupancy?

[Levi K.]

Hello BP experts,

Simple (I hope) question:

How do I obtain a mortgage for the property with low owner occupancy that is paid off?

BR,

Levi

[Dion DePaoli]

I see.  The ownership use in the condo complex is the issue.  The requirement for a lower level of Non Owner Occupied owners in the complex is pretty common.  There are some portfolio lenders who may lend on the unit you will simply have to shop around or perhaps seek a Mortgage Broker to shop for you.  

Outside of the above, a private lender may also be an alternative for you.  

Might be able to make a post and put it in the Marketplace here on BP, there are some lenders and brokers who might be willing to work with you on the matter. Make sure and mention the NOO ratio so folks understand what the barrier is.