Is it possible to get owner-occupied financing for a 5 unit building?

[Amanda Hensley]

We are considering our next investment, and one of the things we've been thinking about is moving into multi-family / apartment buildings.  There is a 5 unit building near us and I think the numbers are OK on it (not swell, but it's Portland, so they should be consistent and we like the area). If we pursued this, we would actually consider moving into one of the larger apartments and renting out our current residence (it will rent EASILY and we do want to hold onto it for appreciation purposes).  

Since this is a 5 unit, I don't think we can qualify for residential financing with this (which would have given us a better loan rate and terms since we'd be owner-occupants), but I'm wondering if there is anything similar in commercial lending?  

Thanks in advance for your opinions.

[Benjamin DeLeon]

So the problem with getting the owner occupied rates is that banks consider multifamily properties with 5+ units to be investment properties, so all the underwriting is done as it would be for any other commercial property.  

Honestly it's surprising that they let you get up to 4 units as residential.  In other types of commercial property you have to use at least 50% of the property for it to be considered owner occupied.