Fannie Mae announces 5% down payment loan for multi-family home buyers, starting 11/18/23!
Down payment requirements in the past, for multi-family purchases, were in the 15%-20%-25% range. Sound too good to be true? With the high price of homes here in the Northeast, a multi-family can offset monthly costs and open the door to homeownership for some. This Fannie Mae move does just that but there are still some caveats: the home must be owner-occupied and applies to 2, 3, and 4 unit homes, not more.
Thinking about purchasing a multi-family? Reach out to one of our homeownership experts!
