Buying a 2–4 Unit Property: Live in One, Rent the Rest

Why investors start here

A small multifamily property lets you buy with owner-occupant financing (lower down payment, better pricing) while tenants cover part of the mortgage — the "house hack." After a year of occupancy on most programs, you can move on and keep the property as a rental.

Owner-occupied financing

• FHA — 3.5% down with qualifying credit on 2–4 units. On 3–4 unit properties, FHA applies a self-sufficiency test: the property's net rental income must cover the full payment.
• Conventional — low-down-payment options exist for 2–4 unit owner-occupied purchases; the specific minimum depends on the program and units.
• VA — eligible borrowers can buy up to four units with no down payment if they occupy one.

How rental income helps you qualify

Lenders typically count a percentage of the projected rent (to allow for vacancy and expenses) from the units you will not occupy, using the appraiser's rent schedule and, where available, existing leases. Some programs require landlord experience or reserves before counting it.

Investor financing

Non-owner-occupied 2–4 units generally require 20–25% down on conventional programs, with pricing above owner-occupied. DSCR loans qualify on total rent instead of your income and often allow closing in an LLC.

2026 conforming loan limits (most of the U.S., per FHFA)

High-cost areas carry higher limits. Above these, the loan is jumbo.

What lenders look at that single-family buyers skip

• Existing leases and security deposits (they transfer with the sale)
• Separate utility metering
• Local occupancy rules and any rent regulation
• The rent schedule in the appraisal

Where Quickie Mortgages fits

Tell us the units, whether you will live there, and the rents. We connect you with licensed lenders who close 2–4 unit loans routinely.