BEST ANSWER
FIRST ANSWER
Finding a loan for a condo in which the community is predominantly tenant occupied may be difficult. Most lenders require that a certain percentage of the complex be owner occupied (more owners than tenants). Keep in mind, even if you are purchasing this condo using all cash (no loan contingency), when you go to sell it, a potential buyer will face the same challange you face now - owner vs. tenant occupancy and lendability.
Julie Rees
Coldwell Banker - Folsom, CA
(916) 622-7337
Mon Jun 1 2009, 15:23