When House Hacking Should the Property be considered a Primary Residence or Investment Property ? Does this Really impact anything?
I am a newbie, but from what I've learned so far house hacking would be your primary residence for at least 1 year. Primary residence because of the kind of loan you get. I spoke with my agent earlier this week about house hacking and he said if you get an FHA loan or a low down payment loan you may have to use it as your primary residence. If anyone else has some tips I am also interested in more info on this topic. Thanks for posting Isaac!
Depends on your loan needs. If you want FHA, it will have to be your primary for 1 year. If you have 25% and want to use the cash on it, it can be an investment property.