Down Payment Requirements

[Karen Johnson]

Hello everyone. I'm considering purchasing a property with my sister. She is moving from out of state to be closer to family and we are considering if it's less expensive for her to purchase a place or to rent one. She doesn't have a lot of money to put down, which is why we thought we could apply for the mortgage together. Would we be required to put down 20%, given that this is not an investment property? I'm not sure how the rules change if only one person on the mortgage occupies the property. Any insight is appreciated.