Financing a condo with <50% owner occupancy

[Donald M.]

I saw a condo I'm interested in but it's less than 50% owner occupancy. What are my options for getting financing, what credit unions or banks or other companies should I be looking at? Either for it to be owner occupied or as a rental. Are there any options and what would be the minimum downpayment? Thanks!

[Jackelyn Gonzalez]

If it's an investment property you can look for a hard money lender. Some lenders will look at the occupancy whereas others won't. Either way for both scenarios lenders will typically be at a lower LTV, from what I see here in CA it's 55%-60% LTV. But again it depends on the lender you go to.