Newsflash: Condo Mortgage Question – MI

We made an offer and were accepted for a condo in MI. The contract agreed on says 30 days to close and the seller is going to do an additional 30 days rent back.Our bank is now saying it is going to take 60 days to close because the condo association is “not already approved.” We are applying for a conventional 20% down mortgage…. Is it normal for a lender to need to approve the condo association??Should we be shopping for another lender or just pray that the seller is okay with changing the terms to 60 to close and no rent back?



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