House Hacking for W2 employee with lower income getting financing

[Timson Sunny]

Hi everyone,

I'm looking to house hack a home soon to start investing in real estate. I currently work full-time in recruiting. I've been with my company for 8 months now. I'm also a real estate agent and was doing it full-time before until business slowed down for me. I originally got my license to understand the real estate industry better and take advantage of the benefits of my license when purchasing deals. I now decided now is the year for me to start investing and house hacking makes sense for me at this time. I looked into different financing options and decided that the Navy federal home buyers' choice program would be the best option for me at this time. I plan to take advantage of the no down payment option with no PMI. I would only have to cover the closing cost which I know typically is 2-3% of the purchase price. The hurdle that I have is my company is only paying me a base salary of $45k and I haven't been in the industry for more than 2 years. I want to get approved for at least $265k-$300k but I doubt that's possible with my income. I was thinking of getting a Co-borrower but I would rather not have one. Any suggestions?

Thank you,

Timson Sunny