How to House Hack 2nd Property?

[Stephen Solano]

I purchased my first house hack property back in March of 2019 (Two Unit Home) with 10% down as my primary residence. Its been over a year now and I would like to convert that property into a rental and purchase a new primary residence to house hack. I just talked to my bank to obtain a pre approval and they told me that I cant purchase another 2-4 unit as a new primary residence and it would have to be a single family in order to do that, otherwise they would treat it as an investment property and require 20% down. I'm really confused as I've read all about house hacking 2-4 unit properties and moving from one to the other after living there for a year. Any advice or input? Please help!

[John Warren]

@Stephen Solano any lender can and will do your first house hack, but after that you need to have a mortgage person who is investor friendly. This typically means that they are an investor themselves and that they get what you are trying to do. Not all lending institutions are the same. Some are more conservative than the guidelines given to them by the FHA program. Time to fire your lender and go shopping!