Seeking advise on house hacking using FHA

[Andrew McIntyre]

Here in the next year or so when I am out of school I plan on house hacking with an FHA loan and was wondering if there was anything I am missing as far as steps go onto purchasing and closing. I may just be overthinking this.

Any advice/tips/tricks would be greatly appreciated!!

Here's what I have so far:

1. Build up credit score preferably 580 or higher.
2. https://www.fha.com/fha_loan_requirements do I qualify?
3. Research the housing market, contact a trusted real estate agent.
4. After locating a property use the 4-square method (Thanks Brandon).
5. Make an offer.
6. Have the property inspected
7. Close sale

[Nicholas Covington]

Hello @Andrew McIntyre

Yes, this would be the very very rough process of closing any loan really. There would be some things in between some steps, but I would like to assume you are already aware of things needed for a FHA loan such as 3.5 down if you are going that route.

If you don't plan to bring anything to the table then you should look into some first time home buying programs, which will allow you to roll in closing costs and not have to bring a down payment most of the time.

The process is pretty black and white, especially for a FHA loan. But that might be a very big assumption since I work in the industry, maybe not so much for a first time home buyer.