1 Million Dollar Conventional Condo jumbo loan Minnesota

[Jonathan Fraundor]

We are looking for a conventional loan for a $1.2 million condo we put under contract in MN. It has four units. Ideally we would like a conventional loan with a down payment of 5%. There is no HOA in place and we are assuming we can't convert it to a townhouse. There are five of us that will be the borrowers but only one of us residing in one of the units. Is it possible to get a conventional loan without a sole borrower on a condo without an HOA? We can do a higher down payment, but we want to explore the possibility of acquiring a conventional loan on this property before going the commercial route.

If anyone has suggestions for creative mortgage lenders licensed in MN that would be great! Thank you!