lenders continue to dis-favor loans on condos even for owner-occupied units
Fannie recently changed the rule on the number of units that any one owner can have in a given complex
the rule, as I understand it, applies to 10 units and less – a few months ago a single owner could have no more than 49% of the units and now can have no more than 10% of the units (ie, could own 4 units before the change and can only own 1 now)
look at how that affects the other owners in the complex – if any single owner has more than one unit, NOBODY in the complex is eligible for Fannie loans
I believe the dis-favoring of condo loans is a trend and something that all condo buyers should consider – the value of condos decreases as loans become harder / more expensive to obtain
