5% down lender on house hack duplex?

[Chris Maurice]

Hey everyone,

I've talked to a few mortgage lenders who are all telling me that it's basically impossible to do a 5% down conventional loan on a primary residence duplex. They are saying that it is not within the guidelines of I believe Freddie Mac, which is going to require 15% down. Alternatively, they are suggesting an FHA option. Is there anyway around this? My goal would be to kick the mortgage insurance off at 80% LTV, which I understand is not an option on an FHA. Additionally, The up front MI required for the FHA is another downside, which would be over $6000 additional cost for the price range of property that I'm searching for.

Further, from the lenders I’ve talked to, JG Wentworth has been the most impressive as far as rate and apparent service. Does anyone have experience good or bad with them?

Thanks!