FHA/HUD/Fannie/Freddie Multifamily financing
Hello! I'm currently an investor and single-family homes and interested in learning more about the multifamily market. Specifically I'm wondering how everybody finances and funds their deals through FHA and HUD. If anybody could link me two more resources that could help me understand and learn how they work, I greatly appreciate it. I'm specifically looking for the lending guidelines for Fannie and Freddie loans on multi families. Do you need to put a certain percentage down? Do you get loan-to-value or a loan to cost? what is the minimum income requirement? I know that they are nonrecourse loans, but I can't seem to find any clear definition of what guidelines are necessary to qualify. Also, with FHA for Multi family, does it have to be your first purchase to qualify for 3 1/2% down? Or your first commercial purchase? If anybody is available to answer any questions I'd love to connect via PM or telephone.