Fannie Mae Introduces 5% Down Payment Option for Multifamily Homes

[Adam Eckhoff]

Hello Everyone,

Fannie Mae introduces 5.0% down for MF Properties as of November 18, 2023, aside from the normal 15-25% down. This may seem like a silly question, but is there a catch? 

For example, a $400,000 at 25.0% down is $100,000, which maybe a lot of people don't have for purchasing their (or my) first rental. Conversely, with the new 5.0% down, $20,000 is reasonable, and we have some left in the bank for emergency funds. 

With this news coming out, should we all be pulling the trigger on multi-family properties.

https://themortgagereports.com/107690/fannie-mae-introduces-...

Thanks,

Adam.

[Russell Brazil]

Best loan product available now, hands down.