Buying a condominium unit for investment purposes rather than your own primary residence can be an uphill battle. Depending on the housing market and the flexibility of the mortgage lending environment, you may find it impossible to buy an investment condo without a 25 percent or 20 percent down payment. If you find a lender that can finance your purchase with only 10 percent down, however, the lender usually must ensure that the condominium is fiscally sound and that you can afford to be a landlord. Condos and investment properties generally present a higher level of risk for mortgage lenders, therefore, the loans are harder to qualify for.
