Fannie Mae/ Conventional loans to allow 2-4 units with 5% down 馃憖

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Fannie Mae/ Conventional loans to allow 2-4 units with 5% down 馃憖

Justin Brown
Lender 路 Claremont, CA 路 Member since 2020 路 34 posts 路 19 votes

So as of November Fannie Mae is going to allow 5% down on 2-4 unit properties 馃檶馃挴

https://singlefamily.fanniemae.com/media/36841/display?fbclid=IwAR0MoXuGvj6f--gLUcQP2BR61hcK-upNQZidPmVrOxyZoL49qSLvM-yZ244

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Tony AcreeBusiness Member
Real Estate Agent 路 Oakland County, MI 路 Member since 2022 路 18 posts 路 19 votes
2y
Quote from @Christian Ehlers:

How does everyone see this new guideline affecting their markets? Seems it would help make more house-hack deals workout for buyers, meanwhile increasing demand for these assets even higher than it already is...

I think this is great for the people who are willing to house hack a small multi to start building wealth.

It's just too bad there's very little inventory of small multifamily in my area for this to matter much.

[email protected]248-872-2068
Tony Acree - Real Estate One 512 Reviews
WebsiteView Page
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  • Preston DeanBusiness Member
    Realtor 路 Fort Worth, TX 路 Member since 2021 路 779 posts 路 368 votes
    2y
    Quote from @Justin Brown:

    So as of November Fannie Mae is going to allow 5% down on 2-4 unit properties 馃檶馃挴

    https://singlefamily.fanniemae.com/media/36841/display?fbclid=IwAR0MoXuGvj6f--gLUcQP2BR61hcK-upNQZidPmVrOxyZoL49qSLvM-yZ244


     Is this for investments? and only in certian states?

    [email protected]817-480-9452
    United Real Estate DFW Properties 565 Reviews
    WebsiteView Page
    0Reply
  • Justin Brown
    OP
    Lender 路 Claremont, CA 路 Member since 2020 路 34 posts 路 19 votes
    2y

    @Preston Dean its available in all states but only for primary residence 

    2Reply
  • Andrew PostellPro Member
    Lender 路 Fort Worth, TX 路 Member since 2016 路 8k+ posts 路 6k+ votes
    2y

    @Preston Dean the post on the specifics of this topic can be read HERE highlighting the rules and the differences between this and FHA loans.

    0Reply
  • Christian EhlersBusiness Member
    Real Estate Agent 路 NH & MA 路 Member since 2021 路 457 posts 路 291 votes
    2y

    How does everyone see this new guideline affecting their markets? Seems it would help make more house-hack deals workout for buyers, meanwhile increasing demand for these assets even higher than it already is...

    [email protected]978-396-9939
    0Reply
  • Tony AcreeBusiness Member
    Real Estate Agent 路 Oakland County, MI 路 Member since 2022 路 18 posts 路 19 votes
    2y
    Quote from @Christian Ehlers:

    How does everyone see this new guideline affecting their markets? Seems it would help make more house-hack deals workout for buyers, meanwhile increasing demand for these assets even higher than it already is...

    I think this is great for the people who are willing to house hack a small multi to start building wealth.

    It's just too bad there's very little inventory of small multifamily in my area for this to matter much.

    [email protected]248-872-2068
    Tony Acree - Real Estate One 512 Reviews
    WebsiteView Page
    1Reply
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