Buying a 2 family home

[Christine Lydon]

Hi Everyone,

I am currently searching for a 2 family home that I will be buying with a friend.  He will live in one of the units for approximately 1 year and we will rent out the other unit immediately.  Would we qualify for a conventional loan (20% down, standard interest rate), due to the fact that he will live in one of the units as a primary residence? Or will we be required to put more down as an investment property bc I will be a part of the deal but not living in it as a primary.

Thanks!