House Hacking Getting More Affordable
Matt Boytz
October 4, 2023
Fannie Mae just announced loosened down payment restrictions on 2-4 unit properties. What used to be 15-25% down payment minimum, will now allow 5% down on duplex through quadplexes for Primary Residences, This will allow for more affordable housing for the buyer, and hopefully the tenants as well.
Starting November 18, 2023 Fannie Mae will implement this change, which means any day now we will be OK to start proceeding with these.
What is the Multi-Unit House Hacking?
Multi-unit house hacking involves purchasing a property with multiple legal living units, such as a duplex, triplex, or quadplex, living in one of the units and renting out the others. The idea is to use the rents received to help offset your monthly expenses and the icing on the cake is being able to be a local landlord.
If you have any questions, feel free to ask away.
Matt Boytz
Direct: 541-359-7212
Office: 541-972-8616
NMLS 1294957
NMLS 2552455
Matt@BendMortgageBrokers.com
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www.BendMortgageBrokers.com