Fannie Mae 5% down loan program for MF home purchase

[Brian Scott]

Hey everyone,

Has anyone used the Fannie Mae 5% down loan program to purchase a second MF home?

I already own one and am looking to purchase a second one. I know one of the main qualifiers is it has to be owner occupied - which is fine.

Will there be any issues with this second purchase being in the same town as my first MF home?

I know some regular conventional investment property loan programs have certain rules about this but does Fannie Mae?

Any advise is greatly appreciated!

Thanks!