Fannie Mae Multi Family 5% Down Payment

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FANNIE MAE MULTI FAMILY 5% DOWN PAYMENT

Previous down payments for multi family:

  • 2 units – 15% down payment
  • 3-4 units – 25% down payment
  • FHA 2-4 units – 3.5.% down payment

On November 18th, 2023 – Fannie Mae Multi Family 5% Down Payment Requirement Changes:

  • Fannie Mae will accept 5% down payments for owner-occupied 2, 3, and 4 unit homes.

Taking Advantage of Fannie Mae’s Multi Family Policy Change

Fannie Mae Multi Family 5% Down Payment

The policy changes apply to standard purchases, rate-and-term refinances, HomeReady, and HomeStyle Renovation loans for owner-occupied transactions. This means that first-time home buyers and individuals who seek to offset high mortgage payments can take advantage of Fannie Mae’s accessible financing options.

The ability to make a smaller down payment not only makes multifamily homes more accessible, but also allows home buyers to gain valuable landlord experience, as they have the opportunity to collect rent from other units while building equity in their own property.

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Fannie Mae Multi Family 5% Down Payment

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