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Multifamily Property = Rental Income

Lower required down payments can lead to more opportunities for homeowners and investors.

At the end of 2023 Fannie Mae started to accept a 5% down payment for owner occupied 2-4

unit multifamily property. Previously, the requirement was a 15-25% down payment. Additionally, the current rents on the units not occupied by the owner can be counted toward income in order to qualify for the loan. This is a wonderful opportunity to reduce mortgage payments by leveraging rental income. The maximum loan amount allowed for these 2-4 unit

properties is set at $1,396,800.

The ability to make a smaller down payment not only makes multi family homes more accessible, but it also allows home buyers to gain valuable landlord experience, as they have the opportunity to collect rent from other units while simultaneously building equity in their own property. Fannie Mae’s move to lower the down payment requirements for multifamily homes is a promising step towards improving access to credit and affordable rental housing. With this progressive policy change, the dream of owning a multifamily home while generating rental income is becoming more attainable for mortgage loan borrowers.

Are you ready to start this new adventure and get another source of income? Contact us today and we can help you get started!

Email Dorene at and she can help you get started today!

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