Does 80-10-10 still exist?

[Jeremy Komer]

Hello everyone, 

Has anyone done an 80-10-10 recently? I understand Fannie and Freddie wont allow a piggy back loan and since the minimum down payment on a 3-4 family conventional is 20% that severely limits my options now that I am looking to acquire a third investment. The last two were two years apart, one as a portfolio loan and the other FHA.

I am very conservative with my cash reserves and try to keep 6MO operating expenses in reserve.

I can afford the 20% on some of the $300K ballpark multifamily I have been seeing that I am confident could bring in a decent profit.

However that would drain most of my reserves after I also pay for the closing costs. I've heard of 80-10-10 being an option but not sure where to start on getting a loan that would allow a partially financed down payment.

I planned on doing owner occupant to qualify for the lower down payment but it doesn't appear owner occupant changes the money down.

Am I missing something?