New in REI and interested on House Hacking

[Leira Alamo]

I already own a home with almost over $300K in equity. I would rather not sell it, but keep it and rent it out. The house is under both my name and my husband's.

With the above scenario, is it possible to purchase a duplex (under only my name) with a traditional loan at a 5% down payment, as part of the house hacking strategy?

Thank you

[Kimberly Elson]

No. Not because of the home you already own, but because a conventional loan would require 15% down on a duplex even as a primary residence. Only FHA would allow less. Also, when married and buying property, you'd still have to disclose that you are married even if the deed on the new property will be solely in your name.