Any good lenders for a first time two flat buyer that can do 5%

[Account Closed]

hey all,

I'm a new buyer and I found an awesome two flat that I want to purchase. After lots of research and seeing properties I found the one. I want to  go in for it but my lender only does conventional for a two flat if i have 20% down which I don't. However I have 5% and I want to save the rest for closing and fixing the place up. Anyone know lenders that will offer loans for 5% or less that are conventional loans? Chicago area please if that matters.

[Wayne Brooks]

Conventional loans for an owner occupied duplex are 20%, period. You could go FHA, 3.5% down, but you still have closing costs as with any other loan, probably 5-6% or so including your prepaid taxes and insurance.