All Forum Posts by: Kerry Pangan

Thank you everybody who commented. @Nathan Gesner the Youtube that you recommended helped significantly. 

Looking to purchase my first duplex. What numbers do I specifically look for in “Making the numbers work”? I know enough that if a duplex both side rents a couple hundred dollars over the mortgage than you’re in the green.

I am pretty new to the whole loan/lending. But I am curious. When you says you'll lose your down payment like you won't get that back at all? If so why is that?

@Jeff Shumway Thanks for commenting. I am using a 3.5% down FHA loan I have pretty good credit score of 750 and debt to income is about less than 48-49%. Also what do you mean by paying points for the loan if you could elaborate on that?

Received my first loan estimate. Is this rate competitive or high? I’ve gotten mix opinions on it for a duplex.

I received a loan estimate after not needing to be on the job for 2 years. Now that I received it and see all these potential numbers pretty overwhelmed at all the numbers and technical terms just being dead honest. What I would like to accomplish is to be able to look at these numbers and know if it be a good lend or not? My main goal is to purchase a duplex using FHA rent one side and I live on the other side while also renting out all the rooms. I would go as far as sleeping in the living to maximize profitability. I just need some guidance in the right direction without feeling like the person helping is only in it for their own profitability sake. I am also able to talk to multiple people that would guide me just to have a variety of opinions to go from. =)

@Jake Thomas Really? Well for I just got out of unemployment and they required me to have at least 2 years of work history to qualify for FHA. I've asked around other lenders too and they pretty much said the same thing about having at least 2 years of work history.

@Nathan G. Thanks Nathan. I’ll explore those tools.

Hello, 

I am a new investor and wanting to learn more about house hacking. I want to be in contacts from people who also do house hacking a duplex and experienced. I am 24 living with parents. Unfortunately I am hindered since I just got a new job 5 months ago and I prefer to leverage my FHA 3.5% down rather than put 15% conventional. I have about 19 months till my 24 months requirement is up because that is what the bank wants. So my best moves are to try to learn as much as I can in these 19 months to better prepare for investing in a duplex =)

I’ve called banks pretty much all of them said 15% down on a owner occupied house. I’ve heard so many people saying you only need a 3.5% down fha?