All Forum Posts by: Desiree Steele

@Chris Mason sorry. Should have been more clear..we bought our first residence cash, no mortgage.

@Chris Mason thanks! This is what I thought, just wanted some reassurance. We are going to live in the single family for a year or so while we build some cash for a down payment on a multi. Then we'll move to the multi for a while to satisfy the first time home buyer stuff. Thanks again!

First time home buyer (and poster!) here from Northern Kentucky. We are in the process of buying our first single family for cash. I've just now learned of the glorious idea that is "house hacking" and I'm rethinking my game plan.

The game plan would be to rent out the sfh and live in a unit of the multi, in order to qualify for the first time home buyers. Just curious if this is possible.

My question is, if we've purchased a home cash and want to buy a multi in a year, can we take out an FHA first time home buyer loan, even though we already own a property?