Details on how to qualify for a 5% down loan

[Ethan Dezzani]

I am looking to buy my first property while in college. I have narrowed it down to a 3 or 4 bedroom single family with immediate value add potential. My plan is to rent out the rooms to other students. I have been told I can qualify for a 5% down loan if I have a co borrower. My question is whether or not I would personally have to live in one of the rooms to qualify for this kind of loan. I know that for an FHA I would need to, but in my senario where I would need a co borrower for all W2 qualification for the loan this would not be applicable.