{"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>\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 gform.initializeOnLoaded() is deprecated in the form editor 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See our <a href=\"\/privacy-policy\" target=\"_blank\">Privacy Policy<\/a>.<\/i><\/p><\/div><div id=\"field_1_8\" class=\"gfield gfield--type-hidden gfield--input-type-hidden gform_hidden field_sublabel_below gfield--no-description field_description_below field_validation_below gfield_visibility_visible\"  ><div class='ginput_container ginput_container_text'><input name='input_8' id='input_1_8' type='hidden' class='gform_hidden'  aria-invalid=\"false\" value='https:\/\/mortgageequitypartners.com\/winterpark-fl\/wp-json\/wp\/v2\/posts\/6740' \/><\/div><\/div><\/div><\/div>\n        <div class='gform-footer gform_footer top_label'> <button type='submit' id='gform_submit_button_1' class='gform_button button' onclick='gform.submission.handleButtonClick(this);' data-submission-type='submit' >Submit<\/button> \n            <input type='hidden' class='gform_hidden' name='gform_submission_method' data-js='gform_submission_method_1' value='postback' \/>\n            <input type='hidden' class='gform_hidden' name='gform_theme' data-js='gform_theme_1' id='gform_theme_1' value='gravity-theme' \/>\n            <input type='hidden' class='gform_hidden' name='gform_style_settings' data-js='gform_style_settings_1' id='gform_style_settings_1' value='[]' \/>\n            <input type='hidden' class='gform_hidden' name='is_submit_1' value='1' \/>\n            <input type='hidden' class='gform_hidden' name='gform_submit' value='1' \/>\n            \n            <input type='hidden' class='gform_hidden' name='gform_currency' data-currency='USD' value='7Cq95RRdptwsTMGvy\/AsBwUcNftPS9SknZASJX6snb5Q3Fm4973\/G60cmfnNe1t\/Zvta46\/\/73nvBzM0d0i+zFJG7WXsSqBnJ6qu6BVY75CGOyI=' \/>\n            <input type='hidden' class='gform_hidden' name='gform_unique_id' value='' \/>\n            <input type='hidden' class='gform_hidden' name='state_1' value='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' \/>\n            <input type='hidden' autocomplete='off' class='gform_hidden' name='gform_target_page_number_1' id='gform_target_page_number_1' value='0' \/>\n            <input type='hidden' autocomplete='off' class='gform_hidden' name='gform_source_page_number_1' id='gform_source_page_number_1' value='1' \/>\n            <input type='hidden' name='gform_field_values' value='' \/>\n            \n        <\/div>\n                        <\/form>\n                        <\/div><\/div><div class=\"gca-utility clearfix\"><\/div>\n<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.<\/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":["post-6740","post","type-post","status-publish","format-standard","category-articles","category-news","entry","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}]}}