Hey, future real estate moguls! Hold onto your hats because Fannie Mae just dropped a bombshell: starting November 18, 2023, they’re introducing a groundbreaking 5% down payment option for owner-occupied 2-, 3-, and 4-unit properties.

This is a total game-changer! In the past, snagging a multi-family property meant plunking down a hefty 15%-25% of the property’s price tag. But thanks to Fannie Mae’s forward-thinking move, investing in income-generating properties just got a whole lot more affordable and within reach. This game-changing policy covers standard purchases, no cash-out refinances, HomeReady, and HomeStyle Renovation loans for owner-occupied properties.

For first-time buyers or anyone wanting to offset those pesky high mortgage rates, this means you can now tap into a conventional loan and use rental income to ease a chunk of your mortgage burden. Plus, with a cap of $1,396,800 on these 2-4 unit homes, you’ve got more leeway to snag larger, more lucrative properties. And here’s the real kicker—Fannie Mae is giving a nod to buyers eyeing 3-4 unit properties by axing the FHA self-sufficiency test, streamlining the path to pre-approvals for multi-family digs.

Step into the future of real estate with Fannie Mae’s groundbreaking policy shift. We’re all about leveling the playing field, giving you the keys to your multi-family kingdom. Don’t sleep on this—start plotting your path to multi-family homeownership today! 🏠💪