Does the fannie mae 5% down for owner-occupied properties allow for new construction?

[Ellie Narie]

I know that fannie mae recently changed its guidelines about multi-family property loans, and now allows a 5% down payment for 2-4 unit homes as long as the owner will occupy one unit. Does this apply to new construction? Could I build a fourplex for 5% down? 

[Andrew Postell]

@Ellie Narie to build a home would require 2 different loans or a "one-time-close" loan.  Do you have a lender that you are working with yet?  Not every lender will do new construction loans and even fewer will do the "one-time-close" option.  So depending on what lender you have access to really depends on what they allow with this.