Multifamily House Hack Down Payment

[Colin Curtis]

Hello everyone,

I'm looking to begin my real estate investing journey by way of a small multi-family house hack. I had read that it was possible to put less than 20% down using a conventional loan as long as you live in the property for a year. After speaking with 2 mortgage lenders however I've found that they won't allow less than 15% down on a traditional mortgage if the property has more than 1 unit, even if you intend to live in one of them. Do you think this happens to be the policy of these 2 lenders or a standard across the country/state? I appreciate the help!