Duplex loan with 15% down?

[Chris Penny]

Hello,

I am about to buy a duplex at about 300K and wondering if I can make a conventional loan with only 15% down (or less). Assuming I have a good source of income (day job) and good credit score. I understand that I'll have to pay PMI but from my analysis, 15% down with PMI give me much better CoC than 25%. Please recommend some good lenders if you know any. Thank you!

[Chris Mason]

15% down niches that are Fannie/Freddie backed...

• Owner occupied duplex.
• SFR investment property.

15% down on an investment property duplex is outside the Fannie/Freddie box. So, if you can find it, it'll be 2 out of the following 3, if not 3 out of 3: ARM, high rate, multiple points upfront.

If you discover that I am incorrect in that claim, and they are lending in California, please post who the lender was so I can start brokering loans to them. :)