Can I get conventional loan for 5% down on duplex?? House hacking

[Micah Carter]

Have a duplex under contract. Going to live in the top unit and rent the bottom unit out. Thought I could get a conventional loan for 5% down. Lenders are asking for 15-20 percent down. Any advice???

[Kevin Luttrell]

All Conventional lenders(Fannie/Freddie) require 15% down minimum for primary residence duplex loans. Freddie will allow 5% down through their Home Possible program, but your income can't exceed certain limits to qualify (and the limits are usually pretty low). FHA will allow 3.5%.

Other than that, you'd just have to try calling around local community banks and credit unions to see if they have a program that allows for less down.