Recommendations for lenders for conventional loan & low down pymt

[Shane M]

What's up BP community? I've got a buddy trying to post a question on this forum, but he's having trouble getting his account set up for some reason. Being the good friend I am, I told him I'd post his question. So without further ado, here it is verbatim:

"I am new to real estate investing and my plan is to buy a duplex to live in one of the units and also rent my current house. I am preapproved for an fha loan with 3.5% down but many of the sellers in Kansas City do not want to sell to fha loan buyers. My bank does not have Conventional loans with low down payments of 3% or 5%. Does anyone know of any lenders that have a low downpayment Conventional loans of 3 to 5%? I will also take any creative ideas that you have to get a new investor started."

Thanks all! 

[Michael Cohen]

Originally posted by @Wayne Brooks:

There are no 3-5% down conventional loans for a duplex, only an owner occupied single family home.  I think it's 15% down minimum on a duplex, but you can google it up......Fannie Mae loans.

FHA allows 3.5% down for a 1-4 unit provided it is owner-occupied.