Duplex Finance Options

[Irvin Grant]

What are the mortgage options for a duplex purchase with 5 to 10% down outside of FHA. It will be owner occupied. I have no credit issues and can have reserves of 6 mos.

[Jason Wray]

Irvin,

FHA is the only way to stay at 3.5% unless you are a Military Veteran you can go 100% No money down. If you can buy it as an Investment you can go 15% down on a 2-4 unit using a Portfolio program that is usually the best option if not buying the home as a primary home.

If you plan on staying in the home for 3-5 years you could look into a DPA down payment assistance as a primary home.

That will get you into a conventional duplex for example wiht the down payment assistance.  Every scenario is different so there may be pro's and con's to that option.