Exiting announcement! Fannie Mae has just made a groundbreaking announcement that is set to transform your path to homeownership. Starting November 18, 2023, Fannie Mae is introducing a revolutionary 5% down payment option for owner-occupied 2-, 3-, and 4-unit properties.
In the past, the down payment requirement for multi-family homes ranged from 15% to 25% of the property's sales price. With this policy shift, Fannie Mae is making purchasing multi-family homes significantly more affordable and accessible.
This change opens up new opportunities for individuals looking to invest in income-generating properties. The 5% down payment option applies to standard purchases.
First-time homebuyers and borrowers seeking to offset high mortgage rates can now benefit from a conventional loan and use rental income to contribute to their mortgage payments.
Step into the future of real estate investment with Fannie Mae's updated policy. Our commitment is to expand credit accessibility and empower homebuyers like never before. Don't miss out on this opportunity—start planning and prepare to embark on your multi-family homeownership journey!
Our dedicated loan team is here to assist you in understanding the process and achieving your goal of becoming the owner of a multi-family residence while earning rental income. Contact us today to determine if you are eligible to purchase a multi-family home and take advantage of this exciting opportunity.
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