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Updated about 3 years ago on . Most recent reply

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Josh Phillips
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5% down on multi family conventional loan

Josh Phillips
Posted

Hi all, 

Longtime BP reader but never made an account or posted until now.

I'm under contract to buy a duplex and was wondering if anyone has any leads or advice to find a conventional mortgage with 5% down? This would be owner occupied. I am located in Ohio. Unfortunately FHA is not an option for this property.

I understand that covid caused the Fannie and Freddie minimum down payment on multi family to increase, was hoping someone had a contact for someone who may be able to help with a deal like this? I’ve also received conflicting information about whether the Home Possible program would allow this. Any help and guidance is appreciated! Thank you!


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