Can I put 5% down on two family home?

[Chris Cozzens]

Hello, I am looking at a two family home in Essex County NJ.  I am planning on making an offer at $350,000.  I will have a cosigner on the property who will not be living in the home, however I will occupy one of the units and rent out the other unit to a tenant that is already there with a M/M lease for 1500$ per month.  

My question is, is it possible to get approved for an owner ( not cosigner)  occupied multifamily home and only put 5% down?  

I have spoken with only one person regarding this and they have mentioned that I may need to put 10% down to be approved.  

BP, please help!