loan house hack. Lets talk!

[Jaypee Pau]

Thinking about jumping into house hacking and want to make sure I’m setting it up right from the start. I’ve been exploring financing options and came across one that offers 100% financing with no income limits [as long as it’s your primary residence]. Seems like a solid fit for folks trying to get into their first multifamily or single-family with a rental unit. You only need a 620+ credit score, and most people can qualify for about 4.5x their income.

Anyone else doing something similar? Let’s swap notes

[Mohammed Rahman]

Sounds like you're on the right track—house hacking is one of the smartest ways to get started in NYC real estate, especially with prices being what they are. 

That 100% financing option you found sounds like it might be a USDA loan or a local community-based lending program—either way, if there's no income limit and it allows primary residence multifamilies, that’s gold.

The 620 credit score requirement makes it super accessible, and qualifying for 4.5x your income can give you some good buying power, especially if you're targeting 2- to 4-family homes in neighborhoods like the Bronx, parts of Queens, or even upstate if you're open to commuting.

I'd definitely say check how they treat rental income—some programs will let you count projected rental income toward your qualification, which makes a big difference when you're just getting started. Also be sure to ask about PMI, interest rates, and closing cost help.

If you're house hacking in NYC, the other thing to consider is how to handle tenants legally—especially rent stabilization laws and proper leases.