Investors who own units in condominium projects could benefit if a push by the National Association of Realtors to change FHA funding rules proves successful. In a letter to new FHA commissioner David Stevens, the association asked that FHA align its requirements on owner-occupancy in condominiums with those of Fannie Mae and Freddie Mac.

FHA recently adopted a series of amendments to its condo guidelines, one of which lowered the mandatory owner-occupancy ratio to 50 percent. In other words, FHA previously would not insure mortgages on purchases of units located in projects that were more than half investor-owned or rental.

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