Updated over 3 years ago on . Most recent reply
Pivoting from living SFH into house-hacking MF
Hello,
I currently own a Singe family home in the Brainerd/Beverly area. Currently 1.5 years in the home but the goal is to rent the property and move into a 2/3unit in order to house-hack. Is this possible? What are some tips in making this pivot? What are some challenges I may face with lenders, should I rent the home first then purchase? Any advice helps! open to connecting.
Thank you!
Most Popular Reply
Yes you can definitely move out of your home and then move into a 2-4 unit property to house hack. If you wanted to have the rental income from your SFH factored into your pre approval your lender will require a lease FYI. I don't imagine that would be too significant of an impact on your DTI though so I think you should just find the property you want to house hack, buy it & move into one of the units, and then get your SFH rented.