Starting Out
Market News & Data
General Info
Real Estate Strategies
![](http://bpimg.biggerpockets.com/assets/forums/sponsors/hospitable-deef083b895516ce26951b0ca48cf8f170861d742d4a4cb6cf5d19396b5eaac6.png)
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
![](http://bpimg.biggerpockets.com/assets/forums/sponsors/equity_trust-2bcce80d03411a9e99a3cbcf4201c034562e18a3fc6eecd3fd22ecd5350c3aa5.avif)
![](http://bpimg.biggerpockets.com/assets/forums/sponsors/equity_1031_exchange-96bbcda3f8ad2d724c0ac759709c7e295979badd52e428240d6eaad5c8eff385.avif)
Real Estate Classifieds
Reviews & Feedback
Updated almost 6 years ago on . Most recent reply
Tips on getting a mortgage for a househack right out of college?
My partner and I are going to be graduating college in the near future and are looking to house hack. The problem is, as we're just beginning our careers, in Boston no less, we'll have a paltry debt to income ratio. To make matters worse, neither of us are in a position to get a family member as a cosigner. We recognize no FNMA loan would touch us with a mile long pole, but we're wondering if we can find a portfolio lender who would at least consider us.
Important info:
Graduating in a year and a half
When we graduate, our base salaries combined will likely be about 1/5th of the home price we would need to buy. We both work part time as real estate agents, which will likely bring it down to 1/4th.
We're looking to flip houses as well to increase our income, and hopefully bring a respectable downpayment to the table
Cosigners are almost definitely out of the question
Both our credit scores are good (low and mid 700's, with the only thing holding both back being length of credit history)
I'll be graduating with about one years salary in student loans, he won't have any
Looking at comps, rental income will be able to cover all PITI expenses leaving behind a buffer of several hundred dollars a month for home repairs. We're also open to BRRRRing a property
My thought is this, our best bet would be to get a portfolio loan with a balloon payment, with rental income covering the monthly payments. In an ideal world, we'd be able to buy below market to give us a buffer against a downturn, refinance as soon as we qualify, or sell if we don't.
Are there any tips to make this kind of deal more attractive to portfolio lenders?