5% Down Duplex Financing

[Murphy Frankhouser]

I'm buying a duplex in Louisville KY as an owner occupant. I understood that 4 units or less Owner Occupied could get lower down payments on the property. I am not finding this to be the case. I make too much to qualify for housing programs in my area and duplex won't go FHA. I have tried several mortgage brokers and called several banks in my area.

My options are a 3/1 ARM @ 3.75% with 10% down payment or 15% down option.

Does anyone know how to get into the 3-5% down payment area?

[Raphael Collazo]

Hey @Murphy Frankhouser!

I'm very surprised you're unable to go FHA. If you'd like, I can give the contact information for my mortgage broker. He helped me get FHA financing for the 4-plex I'm house-hacking in Old Louisville. PM me if you're interested.

All the best,