Financing an Owner Occupied Duplex

[Adam Moyer]

I am looking at purchasing my first duplex and was in the process of getting pre-approved for a loan.  It is listed for $250k, and I was planning on putting 10% down on it.

In getting pre-approved, a potential (reputable) lender told me "The Secondary Fixed Rate requirements as well as Fannie Mae’s requirements are that Owner Occupied Duplex’s require 15% down so I had to pre approve you that way."

I am new at this, would this be unique to this specific lender or would every lender require a 15% down payment instead of a 10% down payment?