Second Duplex Owner Occupied Financing

[Kenneth Honer]

Hello Everyone, 

About a year ago, I purchased a duplex in which I currently occupy using 10% down FHA financing. It's going very well so far and I'd like to repeat the process again with an owner occupied conventional loan.

I'm looking for a 15% down conventional to purchase a second duplex. I have contacted just one lender so far on doing this and they said that the move would have to "make sense" (like better school district, closer to work etc...) AND also be the same sq footage or bigger and same or higher price point. This is going to be near impossible as my current duplex is probably in the 95th percentile in size and has 7BRs. Moving down from my currently duplex ($340k, 7BRS) to one more typical in the area (4BRs, $250k) would be almost impossible, even if the move "makes sense", in their opinion.  

So my question to anyone is, am I stuck here or do I have ways around this? Has anyone been able to "house-hack" twice with MF properties and get around this? Just not looking for being relegated to needing 25% down and higher investment property interest rates. 

Any guidance helps.

Thanks, 

Kenny

[Andrew Postell]

@Kenneth Honer go to a different lender.  Tons of people just buy a new primary home every year or two so this is a normal thing to do and get financing on but you need a better lender.  Maybe ask your realtor about it or try posting in the Bigger Pockets state forum to see if there are any good suggestions.  Hope all of this makes sense.