Why all the banks I called requires 15% dwn on a duplex.

Question

I’ve called banks pretty much all of them said 15% down on a owner occupied house. I’ve heard so many people saying you only need a 3.5% down fha?

Kevin Romines · Answer

The 15% down that you are referring to is a down payment requirement for a Conventional loan, meaning Fannie Mae or Freddie Mac. You need to ask them for an FHA loan which only requires a 3.5% down payment on 1-4 units.

I hope this helps?

Why all the banks I called requires 15% dwn on a duplex.

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