Lender LTV changes on Multifamily primary residence?
Last year I house hacked a triplex and got a conventional loan for 5% down because it would be my primary residence.
When applying for a new loan looking to do the same thing this year, I'm being told the highest loan to value they will lend is 75 to 80% on a 3 unit as of right now at any loan size. It seems as if most lenders are putting LTV limits on 2 to 4 unit properties to avoid lending to the Fannie Mae limits as this wasn't the case in the past. Even as a primary residence...
Is anyone else running into this issue? Anyone know of a lender that will override these overlays?