Fannie Mae Makes House Hacking Easier

There’s big news this morning from Fannie Mae. Starting November 18, Minneapolis duplex, triplex, and fourplex buyers who intend to owner-occupy may do so with as little as a 5% down payment.

Yes, this option was previously available to first-time duplex buyers whose income did not exceed certain limits.

And yes, FHA still overs a 3.5% down payment.

Prior to this announcement the only low-down option for owner-occupants who either previously owned a property or already had an FHA loan required 15% down.

The financing is intended to expand access to credit and affordable housing options.

It also provides house hackers an opportunity to supercharge their path to financial independence.