Updated Fannie Mae guidelines for Minimum Down Payments on Multi-Units (HouseHack)

[Brad Roche]

Starting today- Fannie Mae has updated their down payment requirements for 2-4 Unit properties when you live in one unit. To buy a multi units property- the down payment requirements use to be:

2 Units:

• 15% Down

3-4 Units:

• 25% Down

With the new Updates- the minimum down payment for 1-4 Units is 5% Down!

This update is a game changer for people looking to house hack a multi-family property. It has opened the door for buyers who are well qualified but did not have the 15-25% to put as a down payment. They have just made it even easier to be a homeowner and landlord as once!

[Benjamin Sulka]

Brad, 

Definitely a big win for people looking to get into the game and to avoid the FHA self-sufficiency test!