Premium Only Content

5% Down on Multi-Family Units is BACK!
#mortgage #realestate
Big announcement this morning indicating that 5% down payment on Conventional 2-4 unit properties is back effective immediately! If you remember, we had this before but it changed to 15% down minimum.
This 5% down Conventional option is available to borrowers who make less than the 80% AMI (Area-Median Income), which for the Twin Cities is $82,240. Of these borrowers, those purchasing duplexes can take part in Bell's BorrowSmart program which will provide a $1000 grant towards closing.
Normal stipulations apply:
-Conventional product
-Must get an Approve/Eligible on automated findings
-BorrowSmart grant only applies to duplex purchases
-3-4 unit properties require 3% of the borrower's own funds verified for the down payment
-Standard rental income requirements and restrictions apply
-Landlord education certification and completion required
-TLTV ratio of 105% is permitted when secondary financing meets Freddie Mac's Affordable Second Requirements
📒 Show Notes and Resources 📒
Justus Foss
Mortgage Loan Officer - Finance With Foss
NMLS #1588344
Have a mortgage question about something not covered in this video or specifically about the video today? Reach out, I'd love to help answer it.
Justus on Social Media:
https://linktr.ee/FinanceWithFoss
http://www.FinanceWithFoss.com
https://www.facebook.com/FinanceWithFoss
https://instagram.com/FinanceWithFoss
https://www.linkedin.com/in/JustusFoss/
https://twitter.com/FinanceWithFoss
-
5:21
The Shannon Joy Show
11 hours ago🚨 AI IRS Crackdown — Small Businesses Targeted First!
6132 -
11:08
VSOGunChannel
15 hours ago $0.07 earnedHearing Protection Act [COMPLETE] Passes the House || BUY'EM While You Still Can
2482 -
31:34
Uncommon Sense In Current Times
12 hours agoInside Planned Parenthood | Abortion Pills, Profits & Abuse | Dr. Ingrid Skop
41 -
2:45:51
Lets Read!
10 hours ago $4.25 earned2 Hours of True Creepy Stories with Relaxing Rain Sounds for Sleep
10.8K4 -
6:17:03
Tommy's Podcast
9 hours agoE734: DJ Kump
30.1K2 -
44:57
SB Mowing
1 month agoRight Before Heart Surgery, She Asked Me for One Favor…
23.7K24 -
55:37
Peter Santenello
1 year agoInvited To Mormon Dinner 🇺🇸
59.8K68 -
3:54:42
Alex Zedra
8 hours agoLIVE! Playing CoD tn :D
63K4 -
2:55:02
Price of Reason
14 hours agoTrump BANS Harvard University! Mission Impossible The Final Reckoning Review! Will Twitch BAN Hasan?
29.2K4 -
3:20:19
Barry Cunningham
9 hours agoPRESIDENT TRUMP AND RFKJR BOMBSHELL NEWS ABOUT MAHA! AND OTHER NEWS!
129K78