Funding options for house hacking (looking for 10% or less for down payment

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Funding options for house hacking (looking for 10% or less for down payment

Erwin McClainPro Member
Member since 2024 · 50 posts · 15 votes

Just curious, has anyone used "Globus Lending" for deals recently ? Looking for lending for house hacking

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Stephanie MedellinBusiness Member
Mortgage Broker · CA · Member since 2014 · 1k+ posts · 642 votes
2y

What specifically are you looking for in a "house hacking" loan? Most lenders have loan options available under 10% down for purchasing a primary residence - these are standard conventional and FHA programs. You can live in one room and rent out the other bedrooms to roommates in your house, but in most cases you won't be able to use that "boarder income" to qualify. That just means you need to qualify with your own personal income.

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  • Derek BrickleyBusiness Member
    Lender · Ann Arbor, MI · Member since 2021 · 665 posts · 227 votes
    2y

    Can't say I have haha but bought a househack myself last December and used Gold Star.  Might be biased.

    [email protected]734-645-7722
    Gold Star Mortgage Financial Group548 Reviews
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  • Jeff ChisumPro Member
    Lender · All 50 States · Member since 2020 · 248 posts · 142 votes
    2y

    Go 5% down multi family up to four units.  I lend in all 50 states

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  • Erwin McClainPro Member
    OP
    Member since 2024 · 50 posts · 15 votes
    2y

    @Derek Brickley Thanks for your response

    0Reply
  • Stephanie MedellinBusiness Member
    Mortgage Broker · CA · Member since 2014 · 1k+ posts · 642 votes
    2y

    What specifically are you looking for in a "house hacking" loan? Most lenders have loan options available under 10% down for purchasing a primary residence - these are standard conventional and FHA programs. You can live in one room and rent out the other bedrooms to roommates in your house, but in most cases you won't be able to use that "boarder income" to qualify. That just means you need to qualify with your own personal income.

    [email protected]
    Stephanie Medellin, Loan Factory58 Reviews
    WebsiteView Page
    1Reply
  • Caleb Brown
    Real Estate Agent · Kansas City · Member since 2018 · 4k+ posts · 3k+ votes
    2y

    Agree with Stephanie. Can you qualify with a conventional or FHA loan? That's the simplest way to star with house hacking

    0Reply
  • Kristie Laufer
    Member since 2024 · 37 posts · 4 votes
    2y

    Hi Erwin! Can you send me the details? I might be able to help you.

    0Reply
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