Creative Financing on Owner-occupied Multifamily
Hi All,
I've recently moved to Atlanta and I'm looking to purchase and 'house-hack' a multifamily property. I have money for a down payment, but a hurdle I am facing is securing a conventional loan. As of 2017, I've started filing my taxes as self employed. That, combined with the recent relocation, is making it difficult to get approved.
Does anyone have any suggestions or ideas for finding creative financing? I'd appreciate any input. I'd be looking to move out and sell the property within a few years, so adjustable rates or short terms would be options.
Thanks!
Most Popular Reply
One of the main advantages of house hacking is being able to secure low cost low down payment traditional money, if you dont qualify for that I think its best to keep your options open and just keep looking for deals, maybe something to live in and hack maybe something just to rent.
Also keep looking for traditional financing, once your taxes for 2017 are done and you show some income you might still qualify.