Financing Primary Home when Living in a Duplex

[Amy Paradis]

Hi All,

I own 2 duplexes in Vermont. One under an LLC and another as my primary house. We are currently looking to purchase a single family home. We came across a requirement for the loan program we qualified for which required saving "reserves" for each property we own. This is a 5% down type loan but would make our out of pocket costs combined with required reserves to be $27,000 (the property is $200,000 and this is without any seller contribution). Has anyone else come across this problem in obtaining financing? Any suggestions? We are super frustrated that a single family house that is under 200k would only cost 13k less then putting 20% down on an investment property 2 years ago. It seems insane.

Advice, feedback, banks to try, etc is welcome. 

Amy