Five Percent Down For Four Doors? Yep, Really!!

Rates soften as we anticipate a 25 bps Fed cut, and mortgage quotes start dipping into the fives while volatility cools. Fannie Mae’s new 5% down option for 2–4 unit primary homes opens the door to house hacking and refi's.      Plus smarter Q4 planning starts with an obsession-level mindset.

Listen Now for the HUGE CHANGE!!

Chapters

• 1:12 Week Outlook And Rate Relief
• 1:25 Expected Fed Cut And Mortgage Impact
• 2:23 Rates Dip Into The Fives
• 3:23 Refi Opportunities And Client Reviews
• 4:11 Fannie Mae’s 5% Down For 2–4 Units
• 5:51 Why This Changes House Hacking Math
• 7:06 Market Steadies While Watching Rates
• 7:56 Goal Setting: Interested, Committed, Obsessed

Transcript

SPEAKER_01: 0:37

Welcome. It is the week of October 27th, the last week of October. Can you believe that? Hi, Nikki. How are you? Good. How are you doing?

SPEAKER_00: 0:48

Well. Good. Well, we are definitely seeing some improvement in the interest rate situation looming or pending the Fed drop that is supposed to happen on Wednesday of this week. We are anticipating that they will drop their interest rate by 25 basis points, which of course will help the bond market and help mortgage interest rates lower as well. We've seen some of that, some of that benefit already showing up in our interest rates. And so things are looking good. We can definitely reach into the fives now, which is good for things to come by the year end. The Fed has some plans to lower interest rates through the end of the year. So hopefully we'll start to see the benefit of that as well as things kind of finish out for the year. So keep your eyes and ears open for clients who may have some refinance opportunities as a way to help bring value to them. I've been suggesting that they contact their lender or contact me for any reviews or loan reviews or things of that nature where things might where it might benefit them. We are, it's looking good, I guess, through the end of the year. Another big change that just happened with Fannie Mae. So normally when you are purchasing a primary residence, if you are purchasing a one unit primary residence, so whether that be a condo town home or single family home, you can put as little as 3% down payment or 5% down payment depending on your situation. Fanny May has just announced that as of November 1st, they're allowing 5% down on properties that are two to four units. So if you are living in one of the units of those properties and using that unit as a primary residence, you can finance the entire home or the entire units with just 5% down. This is a huge change. Fannie Mae used to require for a two-unit property at least 15% down. And they used to require for a three to four unit at least 25% down. So this is a big change for anyone who wants to get into multifamily sector, wants to purchase, and needs just some help with the actual cash flow situation and doesn't want to have to put as much down. So that's really, really, really good news for everyone, I guess. And also as a side note, this there is no income qualification for this. So it for anyone making any amount of income, you can put 5% down and also applies if you need to do some renovation to the property. So you can put 5% down and still do a renovation loan if there's some updates you need to make to that property in order to make it what you want from a renter perspective.

SPEAKER_01: 3:15

That's yes, I'm thinking huge news and how I'm going to be sharing this all over social media. That's yeah that's fantastic. And and my mind's wondering like, so now think about this. Agents, if you're watching this, wherever you're watching or listening, who's coming to mind? And stop and just reach out to them right away because this is that's incredible.

SPEAKER_00: 3:40

Yeah, it's huge news. It really is. Cool.

SPEAKER_01: 3:44

That's great. Good. Yeah. Anything else happening on the street or anything you came across in the last week or so?

SPEAKER_00: 3:52

You know, not really. I mean, things are pretty status quo as far as you know, got changes to guidelines, things of that nature. I think everyone's just the market is just kind of settling down with watching these interest rates and and what they're gonna do, and really through the end of the year and the volatility that may or may not happen. So nothing much has changed from that standpoint. Otherwise, yeah, it's just the kind of the news on on the two to four unit properties, which is kind of which is huge news, actually.

SPEAKER_01: 4:16

Yeah, that's huge. Awesome. Well, yeah, and I actually um just posted myself. My coach does a podcast, it's called the seven figures seven figure standard podcast, and it's from Voss Coaching. And he was talking about goals, and we're in the goal setting portion of the year going into the fourth, you know, in the fourth quarter. And he had talked about if you're interested, committed, or obsessed. So I just wanted to do a shout out there to look look me up under Angie Gerber on Facebook and listen to that podcast. It's 20 minutes long, and it just gets you in the my right mindset and mind frame as you're going into plan. And you know, do you align with your goals? Because if you're you don't align with your goals, and if it's not something that you are on the verge, like obsessed with, or at least really, really committed to, it's it's not the right goal. And that's from me, but I would definitely listen to his his podcast on that. It's just uh I had to post it and share it because it's uh he hits all the points and it's 20 minutes and it's a phenomenal, just quick listen that will get you in the right mindset and the my right mind frame for really thinking about what do you want your 2026 to look like. And one of the things he always talks often about in our coaching calls is that you can change and get quantum leaps and as little as 30 days. But if you committed and became obsessed today with your goal and truly did whatever it took, in 90 days, you would be a completely different version of yourself if you committed to your obsession of whatever it is you want to go after. So just thought I would share that. It's it's not as difficult as one would think to get in the top 5% because most aren't willing to do the work it takes to get there. So uh that's my two cents for today. I think that's important. And you know, if you have a couple extra minutes because you're expecting longer for us, we're we're short and to the point, but take that time and go to Nikki's channel or Instagram and look at everything that she's been posting and go and post yourself, Nikki. Again, I'll I like to remind everyone, all the agents that listen to this, she's given us full permission to stitch, do what duet, rinse, repeat, rip off, redo all of it. So you don't even have to come up with the content, but you do have to be present. And video is king's. So if there's anyone out there that's hiding in the shadows, I would look at your calendar and then I would look at your bank account. I'd look at how you're showing up and know that it's all intertwined. And so you need to change one thing, if not the other. And Nikki, yeah, she just put her uh handle in. I'll put that as well in the notes below so you can look at it. But it's mortgages from MN to A Z. Definitely one to be following if you're not already.

SPEAKER_00: 7:29

Yeah, absolutely.

SPEAKER_01: 7:30

Wonderful. Well, thank you, Nikki. We'll look forward to seeing you next week and reach out to Nikki Raf. We can be helping at all.

SPEAKER_00: 7:37

Sounds good. Awesome.

SPEAKER_01: 7:39

Bye.