Refinancing to a conventional loan after only putting 5% down.

[Cayla Farley]

We purchased a duplex that we are living in so we qualified for a WHEDA loan for only 5% down because it's owner occupied. We have now found another property(4plex) that we'd like to owner occupy again getting a FHA loan. We would need to refinance our first property to a convention loan before moving forward. But with only putting down 5% our LTV is 95% when a conventional loan will only refinance 75% LTV......so we basically need to put down another 20%.

Are we missing something? Is there a way around this? 

Our other option is to sell our first property, which is fine...but going forward how to be accumulate multiple properties if this is the issue we will continue to run into. 

Obviously once we start earning a decent amount of cash flow, saving money for bigger down payments won’t be an issue, but until then, what would be our best options getting there?? 

Thanks in advance! Any advise would be appreciated!