Updated almost 8 years ago on . Most recent reply
House hacking partner
Looking to see if anyone has ever partnered up with a house hacking deal?
I'm trying to get into triplexes and fourplexes but it's taking a while to save the 20%, if I could house hack myself I would do it in an instant but with a growing family its not really possible anymore.
So I have been thinking of partnering up with a friend that is currently renting, that is looking to buy their first house.
My questions is can you have both names on the title of the home and still use the first time home buyer 5% down?
Has anyone had experience with this type of deal?
Most Popular Reply
@Account Closed
An insured mortgage at 95% LTV (5% down payment) is only available on owner occupied SFHs and duplexes. On a triplex or quadriplex, the maximum LTV is 90% (10% down payment).