Down payment needed

[Wilber Perez]

How much down payment is needed in this market to cash flow? I am looking to house hack but wondering how much I need? I’m in Chicago btw

[Jared Clukey]

This is a pretty vague question, it all depends on purchase price, loan amount, interest rate, taxes, power, water, sewer, cap ex, vacancy, maintenance, rent price. Add all your estimated expenses and subtract from your estimated rental income! You're likely to get an FHA loan if you're housing hacking making down payment much lower but that will also make your mortgage more expensive with a smaller down payment. You've got a lot of research to do my friend! best of luck