Lenders all have their own criteria when it comes to giving you an owner occupied rate on a loan for condo complexes. Remember an owner occupied rate will always be better then an second home or investment property rate. So yes if you buy into a complex with a low owner occupancy rate, then chances are the lender will not give you the owner occupied rate on your loan. The criteria varies. Mortgage brokers are better at answering this then I am, but usually the lenders like to see at least a 66% owner occupancy in the complex. Like I said, it can vary with the part of town, the complex, the lender, etc…
