It means that the policy of the condo building, like most condos, is they allow you to finance 90% and you only have to come up with 10% of your own. That used to be one reason why sometimes condos were more attractive to some buyers who did not have the 20-25% down that most co-ops require (and some require more). However, banks are not lending 90% these days, so though it is the building's policy, it is what a bank will lend you that determines if you can purchase it. My advice is to get pre-approved by a lender so you know your range for a condo and for a co-op. Then, work with an experienced agent who can answer this and the many, many more questions you (and any buyer) will have along the way. We have access to the agent database, are expert negotiators, and will take you through each step of the buying process.
Halstead Property, LLC