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Updated 10 days ago on . Most recent reply

Non occupant coborrower
Hey BP community 👋
I’m at the very beginning of my investing journey and could use some insight or lender referrals.
I’m trying to buy a 2–4 unit multifamily property in the Troy, NY area, ideally house hacking it to get started. I’ll be living in one of the units and am exploring both FHA (3.5% down) and Conventional (5% down) loan options.
Here’s my situation:
- I’ll be the occupant-borrower.
- Credit Score: ~650
- Income: $60K base + variable commission (1099 + W2 mix)
- I also run a small construction side hustle bringing in additional income (not fully documented yet)
- My best friend and investing partner will be a non-occupant co-borrower.
- Credit Score: 780
- Income: $150K/year W2
- Zero debt
- She won’t live in the property but we’re 50/50 partners on all deals
We jointly own an Airbnb in Florida (our first!), but it hasn’t been operating for a full year yet, so I know that rental income may not help us qualify.
My questions:
- Have any of you used FHA with a non-occupant co-borrower?
- Would we have a better shot going conventional?
- Any lenders you’d recommend who understand creative structures like this?
- Are there other financing strategies we’re missing?
We’re not afraid to hustle—just want to make sure we start smart. Our long-term goal is to scale to 1,000 doors, and this is our first real chess move.
Grateful for any insights, lender intros, or advice 🙏
—Heidi