Mortgages for Duplex's that are investment properties

[Elijah Goodman]

Hi Everyone, 

I currently own a Duplex in Wauwatosa. This was done with an FHA loan in 2020. I refinanced out of that in 2021 thanks to the market going up so much. Which made me eligible to do another FHA loan which I am using to close on a duplex in Shorewood at the end of this month.

I know that I am not eligible for any more low down payment loans as I will have an active FHA loan. I am looking to buy another duplex on the East side of Milwaukee, Wauwatosa, or West Allis. Every lender I have spoke to so far is telling me I will need to put down 25% as it is a duplex not a single family investment property.

I am just wondering if anyone else has any suggestions or if it is possible to put down only 15-20% on a duplex investment property?

Please let me know! I would appreciate any insight.

Thank you