5% down 2-4 Unit Owner Occupied Conventional Loan~ House Hacker Special

[Stephen Rinaldi]

We have been blessed to serve a a ton of Bigger Pockets clients and the biggest challenge we have with house hackers is the FHA Self Sustainability test.. 75% of the overall rent has to cover the PITI.. with rates where they are this has been a big challenge. This has caused our clients a lot of missed opportunities or having to grapple with putting 15% down on a duplex and 25% down on a 3-4units.

This new program changes the game, now clients with income $92,000 can put 5% down up to a 4 unit.  As an independent broker Im always loooking for programs to add value, I believe this one is a bigger winner for my partners and clients.

[Nash Mittelman]

Thanks Stphen! where are the rates trending currently on this product? 

[Stephen Rinaldi]

Quote from @Nash Mittelman:

Thanks Stphen! where are the rates trending currently on this product? 

 Alot of factors to consider in terms of rates but Id say par for the course in the conventional space high 6's

[Stephen Rinaldi]

Quote from @Matt N.:

@Stephen Rinaldi

I can help your clients find these homes. On and especially Off Market. Feel free to reach out, I can provide references from my past clients. 

 Matt,

Sounds great, I have 400 people preapproved looking for opportunities.  

[Jeffrey Blackman]

@Stephen Rinaldi in which states do you offer this?

[Stephen Rinaldi]

PA NJ FL MD and DE

Rates are in the mOd 7's currently

[Shawn Mcenteer]

Hi @Stephen Rinaldi is 5% down program FHA or Conventional? Is PMI required?

[John Hesford]

@Stephen Rinaldi just curious, how long is the owner required to live in the property under these terms?