Closing costs and lender fees are killing my deals

[Joe Leonti]

I am planning to purchase a duplex (or triplex). I am now working with a lender to get pre-qualified for a loan.  I wanted to find out what the real cost of a loan would be, so I am getting estimates.  Well, what happened to all the "low money down" purchases all these books are talking about ? I can't get anything under 20% down !  With the closing costs and lender fees, I am looking at needed to put 80K down on a 349K purchase with 10K in closing costs.  I have been researching this (real estate investing) for about 6 months and I am now getting down to actually looking for a piece of property.  I have a 795 + credit score and they are giving me a 4.75% loan Non Owner Occupied -  Any suggestions (other than find a new lender or find a cheaper property) ?  

Thanks -  

Shocked future investor

[Benjamin Timmins]

You can go for a FHA loan as long as the property has 4 or less units. FHA loans can be as low as 3.5 percent down. You do have to live in it for the first year though.