Can I get conventional loan for 5% down on duplex?? House hacking

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Have a duplex under contract. Going to live in the top unit and rent the bottom unit out. Thought I could get a conventional loan for 5% down. Lenders are asking for 15-20 percent down. Any advice???

I would check in with a few other lenders. Most lenders do ask for 15% down, but I have a client that I'm working with now that was just told that she qualifies for a 5% down payment conventional loan for a duplex. I hadn't heard that before, so I'm definitely going to look into it a little more before we get anything under contract. You might check with some of your local lenders that do in-house underwriting to see what they can do. 

I'm not sure if the duplex you have under contract would meet FHA loan standards, but FHA loans do allow for a lower down payment amount. That may be worth looking into as well.

All Conventional lenders(Fannie/Freddie) require 15% down minimum for primary residence duplex loans. Freddie will allow 5% down through their Home Possible program, but your income can't exceed certain limits to qualify (and the limits are usually pretty low). FHA will allow 3.5%.

Other than that, you'd just have to try calling around local community banks and credit unions to see if they have a program that allows for less down.