We have a customer who wants to purchase a condo (there are 13 units) for investment purposes. The customers will never live there. I just to be sure I am looking at this correctly but TRID would not apply, correct?

Will this customer be renting the property on a long-term basis?

I found my answer. Thanks

Great!

Would like to share that answer for others who may have the same question?

Based on the fact that our borrower is purchasing the condo for non owner occupied rental, TRID would not apply based on the official interpretation below.

4. Non-owner-occupied rental property. Credit extended to acquire, improve, or maintain rental property (regardless of the number of housing units) that is not owner-occupied is deemed to be for business purposes. This includes, for example, the acquisition of a warehouse that will be leased or a single-family house that will be rented to another person to live in. If the owner expects to occupy the property for more than 14 days during the coming year, the property cannot be considered non-owner-occupied and this special rule will not apply. For example, a beach house that the owner will occupy for a month in the coming summer and rent out the rest of the year is owner occupied and is not governed by this special rule. ( See comment 3(a)–5, however, for rules relating to owner-occupied rental property.)

Thank you.