Can I buy a 2-4 unit property with a conventional loan?
Yes. Conventional finances 2-, 3-, and 4-unit properties for primary residence (owner-occupied) and investment. Owner-occupied multi-unit can have lower down payment minimums than pure investment. Rental income from non-owner-occupied units may count toward qualifying.
Plain-English explanation
Owner-occupied 2-4 unit conventional: minimum down payment depends on automated underwriting findings — sometimes as low as 5% on a 2-unit, but typically 15-25% on 3-4 unit. Investment 2-4 unit: typically 25% minimum down. Rental income usually counts at 75% of market rent or current lease per Fannie/Freddie rules. Reserve requirements increase with unit count. Subject to Fannie/Freddie guidelines.
What can change the answer?
Property classification (single-family, condo, manufactured, 2-4 unit), occupancy, and lender capability for the property type can change the answer.
Want the real answer for your conventional file?
Conventional guidelines are the rule. Your credit, income, DTI, PMI, LLPAs, and Florida payment math are what decide the actual answer.
More conventional questions on Property Types
Educational only. Conventional loan guidelines, lender overlays, rates, fees, PMI, LLPAs, and underwriting requirements can change. Final eligibility depends on full underwriting review.