House hacking by room

[Mahdi Hemmat]

Has anyone done this in the Honolulu area? 

Either with a 4plex or single family and rent out the rooms. Wondering how financing would be with the single family though. They probably will not let you include that rental income. 

- Mahdi Hemmat

[Scott E.]

Most traditional loan options will not allow you to use boarder income (roommate income) to qualify for your new mortgage.

Fannie Mae has a product called HomeReady that I think will allow you to use this income though. But that product is meant for low income borrowers. You'll need to talk with an MLO to see if you qualify.