Owner-occupied conv. 95 on a w.burbs 4-unit lender options?

[Brian Burke]

Hi everyone,

Thank you to everybody in advance for helping me to stop banging my head against a wall (or for encouraging more headbutts). 

So far, the lenders I've contacted either don't have a conventional 95 product at all, or don't allow it's use on more than a duplex. So far, I've contacted New American, Better, and Quicken. Should I be looking at local lenders rather than national? Are there any lenders you know of that do offer this or a similar product?

A little background:

Summary: I'm looking for a conventional 95 because I won't qualify for an FHA until January - I have an employment gap over 6 months due to COVID. I'm over the income cap for the Home-possible program.

I had a multi-family (my first) under contract in march 2020, then got furloughed in April. The company I worked for ended up having to sell itself to stay afloat, at which point I began picking up a few more certifications (I'm a network/systems administrator). I got my vaccination at the end of May and began looking for a new gig in earnest, had a few offers mid June, and was back to work (at a higher salary) at the start of July. I've read that lenders are making exceptions for COVID-related gaps, but I've yet to find one.

Thanks again. I appreciate all the help I've received already and would like to be able to give back soon!

[John Warren]

@Brian Burke this is a tough one for sure. The 5% down conventional is (mostly) dead due to all the limitations that were put on it in 2019. There is still a lot of misinformation floating around, but on the ground mostly people are using FHA now or putting down 20-25% and going conventional. There are a few local options that have 10% down portfolio loans, but it is pretty tough to use a 5% down right now.

You should connect with @Joshua Jones. He has been my lender since I got started with investing, and he knows these programs inside and out.