Conventional loan for duplex

[Kevin Akers]

Is it possible to get a conventional loan for a duplex? I am looking into buying one, but the lender is wanting 20% down because it is viewed as an investment property. I thought I heard you can get a conventional loan for a duplex?

[Upen Patel]

Originally posted by @Kevin Akers:

Is it possible to get a conventional loan for a duplex? I am looking into buying one, but the lender is wanting 20% down because it is viewed as an investment property. I thought I heard you can get a conventional loan for a duplex?

There might be some confusion about what is a conventional loan. You might be confusing it with government backed loans (FHA, VA, USDA).

Conventional loan = Fannie/Freddie loans. For that as an owner occupied purchase the lender is generally right. Min down is 15%. Under some very specific conditions you can get a conventional loan with just 5% down.

If your transaction doesn't qualify for a 5% down conventional loan, then you would want to look into FHA 3.5% down.