Owner occupied conventional 4-plex with >10% down

[Jeremiah Dexter]

Hello all, I’m in MN and am looking for a conventional loan for a 4-unit property. I currently have a FHA home that is now rented so another FHA is out of the picture. I’d like to be sub 10% on the property as it’s $450k and will need minor updates but my lender said 20% is the best I could get away with. Is this possible or is 20% the best I can find. Thank you in advance! Credit is 740+/- Work in property management and am a realtor in MN

[John Woodrich]

I agree with @Jordan Moorhead, you will need a minimum 20% down unless there is enough upside where you can get a HML involved for a short period of time. I also agree that you should reach out to @Tim Swierczek, he can help discuss your options.