Loan approved with 20% down, now they say 25%??

[David Meister]

Hi guys,

I'm working through a Fannie Mae loan on my first investment property and have had a weird situation come up today. The investment property is a duplex, and I'm just now being told that duplexes (and any 2+ unit investment property) require a 25% down payment, but all my numbers were run at 20%! My loan was written, approved, and has gotten through every single step and we are now just a few days away from closing when they drop this bomb on me. Everything I've read has indicated that 20% is standard...not 25%!

So what's going on here?

[Wayne Brooks]

If you are going to occupy one of the units-20%.  If not-25%.  Standard stuff.