DFW Investor-Friendly Lenders

Member since 2020 · 1 post · 0 votes

Hello BP community,

I am a beginner investor looking to start my journey with a FHA house hack in the DFW area. I've been reading through Craig Curelop's "The House Hacking Strategy" and am working on assembling a team.

I started with the Bigger Pockets Lender Directory which suggested Total Quality Lending, Ty Coutts - Aslan Home Lending, Resolution Lending Powered by Independent Mortgage Brokers LLC, Life Changing Team, and West Capital Lending.

If you have experience working with these groups or any other recommendations I’d love to hear from you!

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Tyler HodgsonBusiness Member

Investor · Flower Mound, TX · Member since 2016 · 245 posts · 192 votes

2mo

Quote from @Harrison Sharp:

Hey Bradon - I'm a broker here in DFW and have sold over $160,000,000 in the last 5 years and got my start in real estate investing by house hacking like yourself. @Tyler Hodgson and his team at Umortgage are who i recommend on the lending side! We refer all of our clients to him.

Thanks for the tag, Harrison!

Bradon, it's great to have a few lender options that you interview to see who is the best fit. I'm a fellow investor and mortgage broker and have worked with a lot of fellow BPers over the years. Let's connect!

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Harrison Sharp
Real Estate Broker · DFW · Member since 2015 · 350 posts · 270 votes
2mo
Hey Bradon - I'm a broker here in DFW and have sold over $160,000,000 in the last 5 years and got my start in real estate investing by house hacking like yourself. @Tyler Hodgson and his team at Umortgage are who i recommend on the lending side! We refer all of our clients to him.
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- Tyler HodgsonBusiness Member
  Investor · Flower Mound, TX · Member since 2016 · 245 posts · 192 votes
  2mo
  Quote from @Harrison Sharp:
  
  Hey Bradon - I'm a broker here in DFW and have sold over $160,000,000 in the last 5 years and got my start in real estate investing by house hacking like yourself. @Tyler Hodgson and his team at Umortgage are who i recommend on the lending side! We refer all of our clients to him.
  
  Thanks for the tag, Harrison!
  
  Bradon, it's great to have a few lender options that you interview to see who is the best fit. I'm a fellow investor and mortgage broker and have worked with a lot of fellow BPers over the years. Let's connect!
  1 Reply
Erik EstradaBusiness Member
Lender · Member since 2022 · 6k+ posts · 1k+ votes
2mo
Quote from @Bradon Good:

Hello BP community,
I am a beginner investor looking to start my journey with a FHA house hack in the DFW area. I've been reading through Craig Curelop's "The House Hacking Strategy" and am working on assembling a team.
I started with the Bigger Pockets Lender Directory which suggested Total Quality Lending, Ty Coutts - Aslan Home Lending, Resolution Lending Powered by Independent Mortgage Brokers LLC, Life Changing Team, and West Capital Lending.
If you have experience working with these groups or any other recommendations I’d love to hear from you!

Happy to chat!
[email protected]818-269-7983
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Robin SimonBusiness Member
Lender · Austin, TX · Member since 2022 · 5k+ posts · 4k+ votes
2mo
Quote from @Bradon Good:

Hello BP community,
I am a beginner investor looking to start my journey with a FHA house hack in the DFW area. I've been reading through Craig Curelop's "The House Hacking Strategy" and am working on assembling a team.
I started with the Bigger Pockets Lender Directory which suggested Total Quality Lending, Ty Coutts - Aslan Home Lending, Resolution Lending Powered by Independent Mortgage Brokers LLC, Life Changing Team, and West Capital Lending.
If you have experience working with these groups or any other recommendations I’d love to hear from you!

FHA Loan House Hacks are going to be a conventional loan product thats going to be pretty much the same price and terms regardless of who you go with, so best bet is likely to just use whoever you are most comfortable with
[email protected]
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Ashish AcharyaBusiness Member
CPA, CFP®, PFS · FL · Member since 2017 · 5k+ posts · 3k+ votes
2mo
Whichever lender you go with, Brandon, the FHA house hack piece is worth mapping out tax wise before you close. Only the units you're renting get depreciation and expense deductions, the unit you live in doesn't qualify, so get that split documented from day one based on square footage or unit count, that's what protects your depreciation claim later.

FHA also has an occupancy requirement, you generally need to live there at least a year before converting the whole thing to a straight rental, worth keeping that timeline in mind since it affects when the rest of the property actually starts generating deductible expenses versus staying personal use. Once you're past that first year and thinking about property number two, that's usually when it makes sense to look at whether cost segregation on the rented portion is worth doing.

Happy to connect!
[email protected]941-914-7779
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Wale LawalBusiness Member
Real Estate Broker · Houston | Dallas | Austin, TX · Member since 2018 · 5k+ posts · 2k+ votes
2mo
@Bradon Good
Your approach of building your team first is definitely a good one. I would interview some lenders, comparing their interest rates and how experienced they are in dealing with FHA house hacking and two to four unit buildings and choose the one that has the best communication skills and understands the investor's mind.
Good luck!
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Trey Belmore
Lender · Dallas, TX · Member since 2023 · 18 posts · 6 votes
13h
Brandon-
I am a lender in the Dallas area and work with a lot of house hacking investors utilizing FHA or Conventional financing on multi unit deals. FHA is great if it is 1-2 units but if it is 3-4 units the property has to pass something called a self sufficiency test which typically doesn't make it viable. Conventional with 5% down for 3-4 units could still be very attractive. There are also less costs with a Conventional loan and you have PMI (mortgage insurance) benefits. Happy to connect and discuss further! We can always help strategize for next purchase if you plan to replicate this 1-3 times. I have personally house hacked 4 properties myself so very familiar with the nuances personally.
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