Conventional Mortgage on a 2-4 Unit Property

[Jamie Jones]

Some good news was announced today for folks who are looking to house-hack a 2-4 unit property. Fannie Mae just released an update stating that, effective November 18th, they are increasing their max LTV requirements to 95% on a 2-4 unit property. This means buyers can now qualify for a conventional mortgage putting just 5% down on a duplex, triplex, or quadplex as long as you plan to occupy the property as your primary residence.

Adding conventional loans in an area previously reserved for just FHA loans hopefully will help more buyers get into properties and start building wealth.

Here is the link showing the update from Fannie Mae: display (fanniemae.com)