House Hacking with a Partner

[Devin Stott]

I have a question for the BP knowledge base: my brother wants to house hack but doesn't have money for a down payment and may not qualify for the loan.  I want to purchase a duplex but would rather not have to come up with the 20% down payment.  Would it work for us to partner up?  Say I put up the down payment and get the loan and my brother lives in the duplex for a year plus.  He gets discounted rent and a small 1-3% ownership stake and I get into the duplex for less down.  Does this work?

How would the mortgage work out?

Does he have to be on the loan for it to be owner occupied?

Does he have to be on the tile for it to be owner occupied?

Does the partnership sound fair?

Thanks for the help.