Products of value for house hackers

[Stephen Rinaldi]

Hello all, just wanted to take the time to share some products of value for the house hackers and share some market changing info:

As of yesterday, Fannie Mae has changed the down payment requirement for primary residences to 5% on up to 4 units. This helps circumvent the self sufficiency test on FHA and make 3-4 units more attainable and more valueable. This also changes the down payment requirement on Homestyle Reno loans too which may really have an impact on options

We recently instituted a 5-1 ARM on FHA/VA which allow for the intial rate to be used for qualification. this allows for more borrowing power and/or a possible difference maker for tight FHA loans.

IMO as a current investor I believe the value of 3-4 units will jump due to these new events, as they can be bought by a wider spread of people in conjuction with many are looking for ways to tackle the industries great issue...Housing affordability,  If you believe that housing affordability is going to be an issue going forward I think 3-4 unit properties are going to be a good bet going forward.