Multi Family Home Buyers Good News Lower Down Payment Program-
Home buyers can now purchase a multifamily home with only a 5 % Down payment!
This is great news since previously you had to put a hefty 15- 25 % down. to purchase a multi family home. For Example to purchase a multi family home for $500,000 a 5 % down payment would be $25,000 down payment instead of $100,000. or more.
This Multi family purchase loan program could help many home buyers Own a Home by either buying the home with other family members and sharing costs. Multi generations living together under one roof yet having their own residence I predict will be happening more as housing costs continue to rise. This can also be a way to collect rental income to offset housing costs. Other loan Requirements
1. Down Payment for the Home can be a Gift.
2. You Do Not have to be a first-time home buyer
3. Credit score of 620 +
4. Must be owner occupied, you must live in the home.
5. 2, 3 or 4 family units
For a list of multi-family homes for sale in Fall River or New Bedford, MA visit learn more -
Karen Martin Realtor 774-930-8181 Call for more info
Safe Harbor Realty 1037 Main Rd. Suite C Westport, MA 02790
Helping Home Buyers in MA & RI since 2003