51% occupancy on condo a condition for a loan?
I recently made an accepted offer on a condo, approved by a bank, appraisal has been done, and now I am learning of the 51% owner occupancy contingency for the loan as an investor. I believe the units are 50/50 rentals to owners but haven't gotten a firm answer yet (something I should have looked into first obviously). Has anyone else had experiences with this situation. We are working with Wells Fargo, and have 25% down payment. Thanks for any advice or insights.