Is 40% down normal for SFR and under 5-unit MFPs?

[Reese P.]

I have a bank account with an investment bank (think of any of the major national investment banks).  They told me today that to lend on a single family or under 5 unit rental property, they expect a 40% down and that the rate wouldn't be great.  I understand that they are a conservative institution, but wow, is this normal?  Any insights appreciated.  I'll post on the network forum to hear directly from lenders, but at this point, I'd like to know if this has been your experience as a community member....  Thanks so much in advance.