20-25% Required as Down Payment on House Hack

[Brandon Weis]

I just had a bank tell me that per new Fannie guidelines, the minimum down payment on a 3-4 unit is 20-25%, even if it is bought as a primary residence. Personally, I think they are wrong. I think they are just an extremely conservative bank and that is their interpretation of Fannie's guidelines.

I have already gotten approved from some other banks (credit unions), so I'm not worried, but I am curious if anyone else has run into a bank telling them they need at least a 20% down payment on 3-4 units, regardless of it being FHA or not. I truly just think this was a conservative bank/incompetent loan officer.