Loan Advice for buying Mom a Condo

[Dan Barnes]

Hi All!  New member, first post.  I'm currently in the process of purchasing a condo for my mother who lives out of state, and I'm trying to get an understanding of the possible loan options I have.  Due to her having lack of credit & to avoid complexity, I'd like to avoid any options that include placing her on the loan.  Condo is $212k, located in CT, and I'd be covering mortgage payments.

While I have the cash to go the standard 20% down on a 30yr conventional (pre-approved by Key Bank in CT for 3.125%), given the current market state I'd like to see if there are any options where I put less $ down and keep more cash on hand. I found this on Fannie Mae's site that suggests it could be classified as a primary residence even with me not occupying the property, but not sure what the exact qualifications are or if it'd still be applicable, as I currently own a residential rental & own/occupy a condo in TX.

Has anyone run into this situation before, or have any thoughts?  Any suggestions or ideas would be greatly appreciated!