Can you finance each unit of a duplex separately?

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If you're planning to by a duplex as a house hack, can you purchase each unit separately? Financing one unit as an owner occupied property (low money down like 5% conventional) and the other as investment property (20% down conventional)? Why I'm asking: So, as a hypothetical, if I bought a duplex for 500K, but I'm only approved for up to 400K on a loan, I'd have to cover the additional 100K in cash. But, if I bought 1 side for 250K as an owner occupant, I could put $12.5K down on that side, and 50K down on the non-owner occupied unit. So $62.5K down total, vs. $100K+ for the same property. Is it possible to finance a property in this manner? If so, does each unit have to have its own address? I see some duplexes with one address, and others with two. Still learning the small multi-family game and would appreciate the info! Thanks in advance, Taylor

It would typically be one title and one loan. In any case, if you’re going to stay in one unit, the whole building would be considered owner occupied for loan purposes. That should help you with low down payment requirements. 

I wasn't clear with your example. If you are saying that your credit situation won't allow you to borrow more than 400k, then it doesn't matter that you split into two loans. 62.5k down in your example would still require you to get 437.5k in loans and that is more than 400k. You'll be better off seeking one mortgage with the lowest down payment for your owner occupied situation. Also consider FHA. If you qualify, you can get one mortgage for the duplex ( or up to a 4 unit property) with just 3.5% down.

@Taylor Corder Buying multifamily units as a primary residence ( up to 4 units) you can buy with lower down payment. If you do not own any property you can buy with 5% down payment under Home Possible. 3.50% down payment with FHA.