Purchasing quad with conventional loan

[Omar Diaz]

Hey BP community, I'm a first time home buyer that is trying to purchase a quad with a conventional loan. My question is: do I need a 25% Downpayment on a Quad in North Carolina if I intend to occupy one unit and rent out the 3 other units? My loan officer informed me that I need 25% dp and 6 months worth of expenses as opposed to my initial plan of putting 5% down however I have read otherwise. I did inform her that I will be renting out other units if that makes a difference