Using Roth IRA to purchase duplex

[Sherrie Tullsen-Chin]

Hi everyone!

I have a goal to purchase a duplex or triplex in Cape Coral Florida in 18-24 months to house hack. At my current savings rate I won't have enough liquid funds for the 5% down payment for a conventional loan (this is a new loan product...the down payment used to be 15% for a duplex and 25% for 3 or 4 units) plus the closing costs and required reserves. I am thinking about whether to use some funds from my Roth IRA to help with the down payment and closing costs. I will be considered a first time homebuyer, and my understanding is I'm allowed withdraw from my IRA for a property purchase given I'm considered a first time buyer and as long as I pull out original contributions and not earnings.

What I'm not sure about is whether the property can be a 2-4 unit multifamily property or if this only applies to SFRs. Does anyone here know? Thanks!