How to find a piggy back (80/10/10) mortgage on a MF property ?

[Jeff S.]

My goal right now is to purchase and move into a fourplex. I had been thinking about going FHA, but that PMI just stinks!

I was reading about a piggy back or 80/10/10 mortgage, and I kind of wanted to get a reality check on that. My credit is 740+, and 10% down is inside my comfort range. One thing I like about the 80/10/10 : I could aggressively pay down the 10% loan in a short period of time and be left with a long-term, low interest, no-PMI loan on the remainder.

My big question : Is the 80% first on a piggy back the kind of thing a typical conventional loan originator would be willing to do ?  In my last go-round with a lender, she said that NONE of the down payment could be in the form of a loan.  In my mind, that translates into : "No, a piggy back loan is not a possibility." At least not from her.

Are the rules different if you start out by asking for a an 80/10/10 loan ?  Is this something that some lenders do while others do not ?

Also, does the number of units matter ? I recall that my lender said she could do 95% LTV on an OOC SFH (1 unit), but for the duplex I was trying to purchase (2 units) she could only do 85% LTV.

Thanks, BPers!