Conventional 2-4 Unit Game Changer

[Sam Prindle]

Hello friends!

This just sent to me from one of my top lender partners:

Starting November 18th, 2023, Fannie Mae is rolling out a game-changing update to its guidelines, specifically focusing on down payment requirements for 2-4 unit homes.

The big news is that Fannie Mae is reducing the conventional down payment requirements for 2-4 unit properties to an astonishingly low 5%. To put this into perspective, the current requirements stand at 15% for 2-unit properties and a substantial 25% for 3-4 unit properties.

This change directly addresses the self-sufficiency concerns often associated with FHA 3-4 unit properties, benefiting both buyers and sellers in the process.

This program has no max income requirements, and no first time homebuyer requirements.

Very exciting news!

Sam