Conventional limits and down payment question

[Neil G.]

Wondering if there are any conventional products that allow 5% down on a 2-unit? I thought there were but it seems like 10-20% is more like it. 
An FHA won't work in this scenario because the home is over the $470K limit (~$600k). I'm in an expensive market, but this building is in a great location and after somewhat smaller renovations it should appraise closer to $750k.
Putting 10% would eat my reserves which I would like to use for the renovation costs. Outside of asking friends and family for a personal loan I’m not sure there are any loan products that would work here. 

[Wayne Brooks]

Fannie will be 15% for owner occupied.