Renovation loan: 5% - 30% down

[Hiro Kitagawa]

Hey guys I'd like to know a bit on so called "renovation loan". Not the FHA 203K loan, but conventional. One loan officer noted only 5% down of the ARV is required, while another said she has never seen anything lower than 20% - 30% down of the ARV. Both of these were told before running a credit check so it's not that my finance affected the result.

How typical is it that figures this far apart would be presented for the same type of loan (30yr fixed conventional)?

[Carrianne Mucho]

Occupancy changes the min downpayment requirement for FNMA renovation.
Owner occupied primary residence can put as little as 5% down while non-owner occupied (investment property) requires 20%.