Fannie Mae Introduces 5% Down Payment Option for Multi-Family Homes
On November 18, 2023, home buyers may be eligible for Fannie Mae’s new five percent down payment option for multi-family homes. If you are looking to owner-occupy a 2-, 3-, or 4-unit property, then you do not need to have the previously required 15-25% down payment to purchase the home. This opens up a lot of doors for homebuyers who may want or need the extra income to offset their mortgage of a home purchase. Read more about the new rules here.
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