why do you need 20% down for an owner-occupied mortgage?

11 mobile home pads plus one SFH.10 pads are occupied, plus the house currently generating $4850/m in lot rent & house rent.

Can you get a no occupying coborrower to sign with you?

The hope is to build experience and open more doors in the future for new builds.I also just had lunch with a banker on Friday who said they have been opening up and relaxing on real estate again…for everything except non-owner occupied construction - that is still a no go for them.

Some are fully occupied, and some are vacant.

Also, for DSCR, they do not use the actual rental income on tenant-occupied houses.

Some lenders will base off the "mix" of commercial vs residential by sqft and some will base off of rent, and some will base off of the unit counts, so you'd want to take advantage of the lender/broker that can fit your scenario in the most favorable way possible.Is the property fully occupied?

Our plan is occupy the home as our primary residence.After further digging through the Grantor/Grantee Index it appears that the original lien that is being auctioned is from 2005 and a couple of the banks listed on that original Deed of Trust are now defunct and closed (one is First Franklin).

Type 1 (owner-occupied) permits cost $300, while Type 2 (non-owner-occupied) permits cost $450 for three years. 

On an FHA loan all borrowers purchasing must owner occupy the property.