I would reach out to a mortgage broker and see what you can actually qualify for first. Once you determine how much you can afford you can start to look at properties in your price range. House hacking sounds like it might be a good strategy if you and your cousin live on one side and you rent the other.
The best way to find out is to get prequalified with a bank. And if you are/can be a member of a credit union--depending on the credit union--some are offering 0% down and no PMI on primary residence loans.
@Umar Farooq I agree with @Grant Miller and @Nicole W. When we were purchasing our first property, my realtor buddy straight up told me that being pre-qualified for a loan would make the entire process smoother (this was coming from a person who was helping us for free - and doing a good job at it!) for everyone.
Furthermore, depending on your preferred market and personal financial situation, mortgage programs will be available with varying terms. A good mortgage broker/credit union/regional bank will help you ascertain what is the best fit for your needs (short and long-term).
Although, house hacking is a good strategy, you should think long and hard to decide if this will be an investment property or a place where you live. If you plan on acquiring additional properties, it might (depending on your situation) be better for you to continue renting, rent an invested property, run it, set more capital aside and buy an additional investment property a short while later.
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