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Updated almost 6 years ago on . Most recent reply

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Brie Schmidt
  • Real Estate Broker
  • Chicago, IL
5,159
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No more house hacking in Chicago North Side?

Brie Schmidt
  • Real Estate Broker
  • Chicago, IL
ModeratorPosted

With the 5% program essentially gone the only option for low money down being FHA... with low loan limits and hard to pass self-sufficiency tests the program is very hard to do. So is house hacking with low money down dead on the north side of Chicago?

@Weston Harding @Henry Lazerow @Jake Fugman thoughts?

There is the dream maker program with 5% down and no PMI but with rates above 6% it will cost almost $400k more in interest on a $750k loan. Any alternatives?

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