{"id":6740,"date":"2023-10-11T18:03:45","date_gmt":"2023-10-11T22:03:45","guid":{"rendered":"https:\/\/mortgageequitypartners.com\/winterpark-fl\/?p=6740"},"modified":"2024-10-11T16:31:11","modified_gmt":"2024-10-11T20:31:11","slug":"fannie-mae-introduces-5-down-payment-opportunity-for-multi-family-homes","status":"publish","type":"post","link":"https:\/\/mortgageequitypartners.com\/winterpark-fl\/fannie-mae-introduces-5-down-payment-opportunity-for-multi-family-homes\/","title":{"rendered":"Fannie Mae introduces 5% down payment opportunity for multi-family homes!"},"content":{"rendered":"<p><img decoding=\"async\" class=\"size-full wp-image-6745 alignnone\" src=\"https:\/\/mortgageequitypartners.com\/winterpark-fl\/wp-content\/uploads\/2023\/10\/duplex.jpg\" alt=\"2 family Florida home\" width=\"1200\" height=\"574\" srcset=\"https:\/\/mortgageequitypartners.com\/winterpark-fl\/wp-content\/uploads\/2023\/10\/duplex.jpg 1200w, https:\/\/mortgageequitypartners.com\/winterpark-fl\/wp-content\/uploads\/2023\/10\/duplex-300x144.jpg 300w, https:\/\/mortgageequitypartners.com\/winterpark-fl\/wp-content\/uploads\/2023\/10\/duplex-1024x490.jpg 1024w, https:\/\/mortgageequitypartners.com\/winterpark-fl\/wp-content\/uploads\/2023\/10\/duplex-768x367.jpg 768w\" sizes=\"(max-width: 1200px) 100vw, 1200px\" \/><\/p>\n<div class=\"gca-column one-half first\"><h2>Exciting announcement: Fannie Mae introduces 5% down payment opportunity for multi-family homes!<\/h2>\n<p>Calling all aspiring Florida real estate investors! Fannie Mae has made a groundbreaking policy shift to revolutionize your homeownership path. Starting November 18, 2023, they are rolling out a game-changing 5% down payment option for owner-occupied 2-, 3-, and 4-unit properties.<\/p>\n<p><strong>Yes, you read that right!<\/strong> In the past, the down payment requirement for a multi-family home was 15%-25% of the property&#8217;s sales price.<br \/><\/div><div class=\"gca-column one-half\"><script type=\"text\/javascript\">\n\/* <![CDATA[ *\/\nvar gform;gform||(document.addEventListener(\"gform_main_scripts_loaded\",function(){gform.scriptsLoaded=!0}),document.addEventListener(\"gform\/theme\/scripts_loaded\",function(){gform.themeScriptsLoaded=!0}),window.addEventListener(\"DOMContentLoaded\",function(){gform.domLoaded=!0}),gform={domLoaded:!1,scriptsLoaded:!1,themeScriptsLoaded:!1,isFormEditor:()=>\"function\"==typeof InitializeEditor,callIfLoaded:function(o){return!(!gform.domLoaded||!gform.scriptsLoaded||!gform.themeScriptsLoaded&&!gform.isFormEditor()||(gform.isFormEditor()&&console.warn(\"The use of 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Thanks to Fannie Mae&#8217;s forward-thinking move, more individuals can now seize the opportunity to invest in income-generating properties. This policy shift applies to standard purchases, no cash-out refinances, HomeReady and HomeStyle Renovation loans for owner-occupied properties.<\/p>\n<p>First-time homebuyers and borrowers hoping to offset high mortgage rates can now benefit from a conventional loan and use rental income to pay a portion of their mortgage.<\/p>\n<p>The loan amount cap for these 2-4 unit homes is now $1,396,800, enabling buyers to acquire larger and pricier properties more easily. Moreover, removing the FHA self-sufficiency test for 3-4 unit properties ensures a smoother path for buyers seeking <a href=\"https:\/\/mortgageequitypartners.com\/winterpark-fl\/get-pre-approved\/\">pre-approvals<\/a> for multi-family housing.<\/p>\n<h3><span class=\"s2\">What is the FHA self-sufficiency test<\/span><span class=\"s2\"> for <\/span><span class=\"s2\">3-4 unit<\/span><span class=\"s2\"> properties<\/span><span class=\"s2\">?<\/span><\/h3>\n<p><span class=\"s2\">FHA Rule 75 states that 75% of the rental income must exceed the monthly mortgage for the p<\/span><span class=\"s2\">roperty to be self-sufficient.<\/span><span class=\"s2\"> This percentage must be at least enough to cover the mortgage payment, known as PITI (Principal, Interest, Taxes, and Insurance.)<\/span><\/p>\n<p>Step into the future of Florida real estate investment with Fannie Mae&#8217;s updated policy. We are committed to expanding credit accessibility and empowering homebuyers like never before. Don&#8217;t miss out on this opportunity\u2014start planning and prepare to embark on your multi-family homeownership journey!<\/p>\n<p>Our loan team is here to help you understand the process and achieve your goal of becoming the owner of a multi-family residence while earning rental income.\u00a0<a href=\"https:\/\/mortgageequitypartners.com\/winterpark-fl\/our-team\/\">Contact a loan officer<\/a> or start the <a href=\"https:\/\/mortgageequitypartners.com\/winterpark-fl\/get-pre-approved\/\">pre-approval process<\/a> to see if you are eligible to purchase a multi-family home today.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>This policy change means purchasing multi-family homes became much more affordable and accessible. Thanks to Fannie Mae&#8217;s forward-thinking move, more individuals can now seize the opportunity to invest in income-generating properties. This policy shift applies to standard purchases, no cash-out refinances, HomeReady and HomeStyle Renovation loans for owner-occupied properties. First-time homebuyers and borrowers hoping to [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","footnotes":""},"categories":[6,4],"tags":[],"class_list":{"0":"post-6740","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-articles","7":"category-news","8":"entry","9":"has-post-thumbnail"},"_links":{"self":[{"href":"https:\/\/mortgageequitypartners.com\/winterpark-fl\/wp-json\/wp\/v2\/posts\/6740","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mortgageequitypartners.com\/winterpark-fl\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mortgageequitypartners.com\/winterpark-fl\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mortgageequitypartners.com\/winterpark-fl\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/mortgageequitypartners.com\/winterpark-fl\/wp-json\/wp\/v2\/comments?post=6740"}],"version-history":[{"count":0,"href":"https:\/\/mortgageequitypartners.com\/winterpark-fl\/wp-json\/wp\/v2\/posts\/6740\/revisions"}],"wp:attachment":[{"href":"https:\/\/mortgageequitypartners.com\/winterpark-fl\/wp-json\/wp\/v2\/media?parent=6740"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mortgageequitypartners.com\/winterpark-fl\/wp-json\/wp\/v2\/categories?post=6740"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mortgageequitypartners.com\/winterpark-fl\/wp-json\/wp\/v2\/tags?post=6740"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}