Updated 2 months ago on . Most recent reply
FHA loan house hack. Lets talk!
Hi all! My name is Ian, I'm 23,I have a full time job and i plan on using that to househack a 2-4 unit property in the Chicagoland area. I'm thinking Berwyn, Cicero, portage park. I did lots of research and now I'm just saving up for the downpayment! If anyone in the area would like to connect I'd be more than eager to!
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Hi Ian! Congrats on the plan. House hacking is a great way to start out and build wealth. One thing I would recommend is only doing a 2 unit on FHA since 3-4 units rarely pass the self sustainability test. If looking to do a 3-4 unit I would look into the Fannie Mae 5% down product. Either route you take you will need 6 months of reserves so don't forget about that. Happy to connect and local to the city!