Financing first deal with a traditional mortgage
I am a new investor looking to purchase my first rental property within the next 1-3 months. I am a little confused because I have heard many people say that the first couple deals they just use standard financing to purchase the home. However I have spoken with the bank and they claim that because it would be for a rental property I could not use a traditional mortgage and would instead have to do a commercial loan. Am I missing something?