Buying a second property with an owner occupied loan
Hello everyone,
I am just starting out in Real Estate and looking at purchasing a home with my brother. We are looking into an owner occupied loan (5% down) so that we can house hack the rooms (looking at SFH). We would like to buy it in his name as I am currently out of state and cannot occupy the home but he can. I would be a co-signer on the home. The question that I have is that his name is currently in my Fathers home that they purchased back in 2015 (20% down conventional). Would he be eligible to buy another property using an owner occupied loan ? He will be living in this new property. Thank you