I currently live in Maryland, aiming to relocate via house hacking in either Austin, Dallas or Houston. I’ll pull the trigger in Q4 ‘19 or Q1 ‘20. Planning to use financing of less than 3.5% down or no Money down program. Any advice from those who have this experience ?
Lender · St. Louis, MO · Member since 2019 · 45 posts · 27 votes
7y
Keep in mind most regional or state DPA (Down Payment Assistance) plans have income restrictions on either the applicant or the household. Sometimes a bank will have DPA grant programs first-time home buyers depending on the location. I would call the local financial institutions and do some digging here. There are no national programs that I know of which which will allow less than 3.5% down on a multifamily.