Sub-to/creative financing strategy to purchase my personal house (to be househacked)

[Maribel Manibo]

Are there special issues to consider if I were to do this approach to purchase my own residence which I plan to househack? How does this affect interaction with seller, seller/buyer agent, bank with the current mortgage? I am currently preapproved for conventional @ 3.5% down but at today's rates. 

[Chris Tarpey]

You can definitely get a home subject-to and then house hack.

Subject to just means subject to the current financing - so you are taking over the mortgage in place. You will not need a pre approved for this!

I would say this is usually done off-market without realtors or banks. There are closing attorneys who handle sub-to, working with both you and the seller and drafting all necessary documents to close the deal.