Moving in to fourplex to lower downpayment

[Olivier S.]

Hi all,

I am trying to find a way to avoid a 25% downpayment on 2-3-4 units.

If I am correct the downpayment can be lowered to 5% if one of the unit is owner occupied. What is the definition of this ?

We will remodel our home this summer, the remodeling is expected to last for 3 to 5 months. In the meantime we were aiming at renting something. 

What about buying a 2/3/4 plex as an owner occupied to get the possibility of a 5% downpayment, live in it for 3 to 5 months then move back to the original location after the remodeling is done ?

Would this be considered as a fraud ?

I cant find any reliable info about that.

Thanks in advance for your inputs