All Forum Posts by: Stephanie Luciano

@Twana Rasoul thanks for sharing! Now after closing many deals on this new Fannie Mae program I can confirm it's great and in my opinion the best house hacking product out there.

In addition to no self-sufficiency test, it also allows for a non-occupying co-signer on a 2-4 unit while keeping down payment at 5%. This is awesome, because FHA shoots up the down payment in this scenario.

Twana if you are looking for similar minded people to partner with in San Diego on 2-4 units, Randa Dehaan is great to connect with from the lending side.

Hello.... thanks for sharing the update. This still only applies for those who live in one of the units as their full time residence, correct?

0 Votes

San Diego, California

@Twana Rasoul

We love San Diego! Spend a lot of time down there actually. Is there any thoughts on how do this without "being owner occupied"? What if we own a home? I have some ideas, but not sure how the lender goes about verifying that me or my husband lives there. Perhaps we "are going through a hard time, and need some space."

0 Votes

San Diego, California

@Patricia Steiner this is great for people like me as a first time investor. We live in CA. How does the lender verify that Me (or my husband) moves in and lives there? What if we own a home?

0 Votes

Thank you, Erik. And how is this verified by Fannie Mae?

0 Votes

Los Angeles County, California

Hello-
With the new Fannie Mae 5% down program, we are looking at 4 units in our area. We own our home. Is there a way to get around the "owner occupied" requirement?

1 Vote

Los Angeles County, California

All Forum Posts by: Stephanie Luciano

Stephanie Luciano has started 1 posts and replied 5 times.

Post: 5% Down Conventional Loans for 2-4 unit Multifamily

Post: 5% Down Conventional Loans for 2-4 unit Multifamily

Post: Fannie Mae Introduces 5% Down Payment Option for Multifamily Homes; Owner Occupied

Post: Owner Occupied Loopholes - Los Angeles

Post: Owner Occupied Loopholes - Los Angeles