Can I get a lower downpayment with a house hacking ?

[Gomez Agou]

Hello Everyone, 

I am about to sell my only house in Maryland. I would like of use the equity to buy a multifamily home in the US. I am wondering whether I could still benefit from a 3 percent downpayment for a loan with a lender if I am planning to live in one of the units of the new multifamily? 

Thanks for clarifying. 

[Benjamin Sulka]

Gomez, 

Yes, most lenders offer a 3.5% down FHA loan with PMI or a 5% conventional with PMI.

Like Russell said, be cognizant of the self-sufficiency test for 3-4 units using FHA. 75% of your rental income must cover PITI (principal, interest, taxes, and insurance).

Hope this helps.