This is a game-changer for Georgia house-hackers and aspiring landlords. In cities like Atlanta, Savannah, Athens, and Macon, duplexes and triplexes can be found in the $250,000-$450,000 range. With only 5% down, a buyer could purchase a duplex in Atlanta for as little as $15,000-$20,000 down and have rental income covering a significant portion of their mortgage — a powerful wealth-building strategy in Georgia growing rental market.
News
Fannie Mae Launches 5% Down Payment Option for Multifamily Properties
Summary
Fannie Mae has introduced a groundbreaking policy allowing borrowers to purchase 2-4 unit multifamily properties with just 5% down, compared to the previous 15-25% requirement. The program aims to expand homeownership opportunities by enabling buyers to live in one unit while renting the others, using rental income to help qualify for the mortgage.
🍑 Georgia Impact
Source: The Mortgage Reports