Jeff Meyers from Certainty Home Lending joins us to talk about the new Fannie Mae down payment requirements for multi-family units. Previously, you had to put 15-25% down on those units, which made it difficult for most people to get their foot in the door. Now, the requirement is 5% down, which opens up new opportunities, especially for those considering house hacking. We run through the numbers on two acutal duplexes that are currently active in SLO County to show you how the payments will work with these new requirements compared to the old. We also talk about the differences between this conventional program and the FHA program that allowed you to put 3.5% down, but had other stipulations.
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