Is 5% down on multifamily with non-occupant Cosigner possible?

[Matthew Conner]

I'm working with a partner and we are looking to find out if a situation would be possible. We would like to partner on a 3-4 unit property where he would occupy one unit and I'd be a non-occupant cosigner. We have applied together for pre approval and found that 5% down payments are only available for single-family. 2 unit is 15% down, and 3-4 unit is 25%. 

Obviously this situation doesn't qualify for fha. The only other option I've seen referenced is Freddie Mac home possible. As far as I can tell non-occupant co-signers are only allowed for single family. Either way we'd be over the income limit together.

Is what we want to do possible? Can we get a mortgage for a 3-4 unit property with 5% down with 1 occupant bprrower and 1 non-occupant co-signer?

Thanks in advance!

[Steven Foster Wilson]

@Matthew Connerhere in Columbus first federal is doing "home possible loans" which I believe meets that criteria.