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Updated over 3 years ago on . Most recent reply

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Julio Ibarra
2
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7
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Looking to purchase first househack

Julio Ibarra
Posted

HI all! I'm looking to purchase my first house hack soon after I finish my second flip here in DFW. I meet all of the requirements to qualify for a conventional/fha loan except for the good steady income as I'm currently working part-time and not making very much from the job. Is there any way to get a loan to surpass this hurdle and if so I'd love to connect with anyone that would be of aid. 

Thanks in advance! 

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1,638
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Michael Dumler
  • Real Estate Agent
  • Atlanta, GA
1,722
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1,638
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Michael Dumler
  • Real Estate Agent
  • Atlanta, GA
Replied

@Julio Ibarra do you have the opportunity to utilize a cosigner? The lender would account for their income and credit as well, therefore, authorizing pre-approval. If you come across a solid house hack property, you can structure the deal so that you are paying your cosigner a monhtly fee, consequently, this gives them an incentive to cosign the loan. Hope this helps!

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