Conventional loan vs FHA for 4 plex?

[Sonam Jessica]

Is conventional loan available to first time home buyer for 4 plex ? Which loan is best for 4 plex ? Conventional loan or FHA ?

If u guys have 4 plex or triplex sell let me know.

I am in colorado

[Seth Wilcock]

You can get a conventional loan on a 4-plex, but you'll need a minimum 20% down payment for Freddie Mac and a minimum 25% down for Fannie Mae. FHA allows for 3.5% down on a 4-unit Home. 0% down for VA financing.

If you qualify for the Freddie Mac Home Possible Mortgage (income restricted), you will need a minimum 15% down payment effective January 1st, 2021.