New Fannie Mae down-payment guidelines for owner occupied multi-family investment properties

Fannie Mae has just released new down payment guidelines for owner occupied multi-family investment properties and it is great news for qualified buyers. I'm attaching a document from Ryan Larussa with GMFS below illustrating the new program guidelines and will discuss them in more detail below.

This program enhancement applies only to duplex, triplex & fourplex properties where the BUYER/OWNER MUST LIVE in one of the units while renting the other units out. This program doesn't apply to a straight up multi-family investment properties where the owner lives off-site.

Now an individual buyer who qualifies for a conventional loan can purchase a duplex, triplex or four-plex with as little 5% down!. This is huge as previously, owner occupied investment multifamily properties required a minimum down payment of 15% for duplexes and 25% for tri and four-plexes.

This program is a great way to build real estate wealth as you essentially have your tenants paying most if not all of your monthly mortgage payments, your properties is appreciating annually and now you've been able to make this purchase with much less out of pocket cash - its just a huge WIN all the way around for investors!

GMFS has been a terrific lender partner of mine for years. In particular Ryan Larussa and his team are A+ superstars. Fantastic service, attention to detail, adherence to purchase agreement timelines & they always deliver an approved loan for closing!

Click on this link to read up on the Larussa Team with GMFS Lending. At the link there are phone numbers to contact Ryan and his team as well as a link to begin an online loan application.

If you are unsure if the time is right for you to look for a home mortgage loan or would like to discuss different home mortgage loan options, give Ryan and his team a call - they'd love to speak with you! And after you speak with Ryan - give me a call so we can start looking for you a new home!

Are you interested in buying or selling a home? I'd love to visit with you, no pressure! Call, text or e-mail me.

Interested in searching online for available homes in the Baton Rouge market? Click on this link to go to my website. It will require you to register, but your contact information will come directly to me. You can search freely on my site and contact me when you are ready to speak!