House Hacking Small MFH While Primary Residence is a SFH

[Thomas Berardi]

Hello BP!

I currently live in a SFH with an FHA on it. I am looking to house hack a 2-4 unit where I would live in a unit, rent the others, and turn my current residence (the SFH) into a rental. I'd love to do a conventional loan with 5-10% down but have talked to a few local lenders that essentially said it would be impossible with less than 20-25% down because banks would not believe the multi fam would truly become my primary after living in a SFH. I was slightly discouraged after speaking with the 2 of them. What are your thoughts ?

I was also considering refinancing my SFH out of the FHA so that I could potentially FHA again, but not sure that helps my situation at all.

Thank you and looking forward to the feedback !