Need a lender for Condo with less than 50% owner occupancy
I am looking to buy a property with following characteristics:
a) Investment condo located in King County, Washington State
b) purchase price = 150K USD. i can put 20%-30% down.
c) I am a non-citizen of USA. here on valid H1-B visa.
d) Owner occupancy is about 42% as of now.
I have solid credit and few other rental properties (all conventionally financed). My current lender is willing to lend me, but he has issue with d) above. Hence he is quoting high interest rate.
He mentions that Fannie Mae guidelines dont allow owner occupancy less than 50% for investment property. If i were to buy it as primary home, d) would not be a concern.
Can you refer me to any lender who would give me a loan for the above property ?