FHA Down Payment on Duplex with Co-Borower.
Hello,
I am looking to use an FHA on a duplex and am going to need a co-borrower as I just have 1 year of 1099 income to show. My lender I have been working with says an FHA loan on a Duplex using a co-borrower requires 25% down. Only singles family homes as eligible for 3.5% down with a co-borrower. I have never heard of this and was wondering if anyone has worked around it or can suggest anything.
Thanks