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John Alba
  • Pompano Beach, FL
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Condo financing

John Alba
  • Pompano Beach, FL
Posted Aug 14 2016, 05:52

Hello to the bigger pockets community. I am in the process of buying a condo in the Coral Springs,  FL area. I spent time looking for the condo got pre-approved by my lender. At last minute my lender informed me that they would not lend money to a community that is 15% or more of rentals. I was counting with a 20% down payment but the another lender I reached out is asking 25%. I don't want to do, I simply don't have 25% what would you guys recommend? Is this common practice? 

Thanks 

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