Multi-Family Home Loans

For Multi-Family Homebuyers

What is a Multi-Family Home?

A multi-family home is a property with two to four separate living units within the same structure. For example, a duplex is a popular building model for a two-unit home, often with the house split down the middle and a distinct living area on each side. Properties with five or more units tend to not be considered a multi-family home and they generally require commercial financing.

With a low current mortgage interest rate, now is the right time to invest in a multi-family home.


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Benefits of Purchasing a Multi-Family Home

  • As long as one unit is primary residence of homeowner the property is considered owner occupied
  • Financing available for up to four units giving homeowner the opportunity to make rental income off of open units
  • Higher conforming loan limits keep rates down for multi-unit properties without the need for Jumbo financing

How do the financing requirements differ for multi-family homes?

Home buyers often do not realize that many two- to four-unit properties can be financed using the same loan programs traditionally taken out on single family homes. Moreover, when the owner of the home will live in one of the units as a primary residence, the property will be considered owner occupied (even if the other units are rented), and may qualify for more favorable mortgage terms.

Available Multi-Family Mortgage Programs

Some of the loan types multi-family home buyers can choose from include:

  • 30-year20-year, 15-year, and 10-year fixed rate mortgages.
  • Government financing such as FHA loans and VA loans (must be used as a primary residence).

We understand how difficult it can be to achieve home financing. That’s why we these developed educational tools to help aid in your understanding of the mortgage process: