Can I buy an investment condo with conventional?
Yes. Conventional finances investment-property condos, but down payment minimums are higher (typically 25% on a 1-unit condo investment), pricing is worse due to investment + condo LLPAs, and the condo project must be warrantable. Florida coastal markets have additional friction.
What this actually means.
Investment condo financing combines higher down payment (25%), LLPAs (investment + condo + LTV), reserve requirements (6+ months on the subject), and project review. Cash-flow analysis: rental income usually counts at 75% of market rent or current lease (whichever is appropriate per agency rule), provided the borrower has 2 years of self-management experience or hires property management. Subject to Fannie/Freddie guidelines.
Where this can move.
Project FHA/conventional warrantability, owner-occupancy ratio, project insurance and reserves, litigation, and Florida 2022+ condo law can change the answer.
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Educational only. Conventional loan guidelines, lender overlays, rates, fees, PMI, LLPAs, and underwriting requirements can change. Final eligibility depends on full underwriting review. Mortgage Expert, Inc. is not affiliated with Fannie Mae, Freddie Mac, FHFA, or any government agency.