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Updated over 6 years ago, 08/25/2018

User Stats

3,019
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2,318
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Will Fraser
  • Real Estate Broker
  • Salt Lake City & Oklahoma City
2,318
Votes |
3,019
Posts

Is my lender wrong regarding serial House-hacking?

Will Fraser
  • Real Estate Broker
  • Salt Lake City & Oklahoma City
Posted

In a recent discussion with my go-to mortgage lender, it was stated that House Hacking using a FHA 3.5% down loan is a "one-and-done" thing because the FHA underwriters will almost certainly not approve a subsequent loan request on a 2-4 unit home because they will deem it an attempt to buy investment properties instead of truly owner occupy.

Since I know there are surely many people here that have house-hacked multiple properties, I wanted to ask . . . have you used the FHA 3.5% down loan subsequently or multiple times? What loan products have you used? If multiple different types, which do you prefer?

Thanks in advance for the input here! 

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