To buy a duplex, you need at least 20 percent down, right?
Remember, if you’re looking to owner occupy a duplex, triplex, or even a four unit apartment building, you have the option of using FHA insured financing.
While FHA recently increased its minimum down payment requirements, 3.5 percent is still within reach of many home buyers.
Best of all, if you don’t have that much saved, there’s no limit to the amount a blood relative can gift a buyer for use as a down payment, closing costs, etc.
Of course, if you have a signed purchase agreement in place prior to April 30, you may also qualify for the $8000 first time home buyer or $6500 tax credits.