11/13/2023
🏡 Are you still wanting to buy a home but at the same time would really like an investment property? 🤔Did you know that you can purchase a duplex, triplex or quadplex as an owner occupied home and qualify for conventional financing? 🤩Also, if you can secure a tenant that will move in upon closing in the home that increases your buying power?
👉🏼Starting the weekend after November 18, 2023, Fannie Mae will allow 5% down payments for owner-occupied 2-, 3-, and 4-unit homes.
😱This is a surprising reversal of the years-long policy of requiring 15-25% down for duplexes, triplexes, and four-plexes. It will be a major benefit to those looking to purchase a multifamily home to live in.
Anyone in the market looking to live in a home while collecting rent 💰 and building landlord experience 👷🏻should take action to secure this new option as soon as it becomes available. Reach out to me, I would love to show you available inventory and connect you with a mortgage lender that can help make your dream of home ownership a reality.