Financing your first Deal

[Niccolo Fazio]

Hello Everyone,

I am looking to break into the Real Estate game and trying to finance my first purchase.

For it, I am looking to house hack a 1 - 4 family building (duplex) here in Texas. Do I need to disclose to the lender that it is a Duplex? Each time I do they increase terms for the property. However, I am house hacking and looking to live in one side.

If it is a Single Family I'll only need 3.2% down, but if they know it is a Duplex they want 15% down on an FHA.

At that point, we would do a Conventional since we are 5% shy of losing insurance.

I understand the increase for an "investment" property - but wanted to see what strategies you all have used?