House Hacking - Restrictions

[Robert Chaiton]

Hi Guys,

I am looking to do my first house hack but have a few questions.

1. Why do lenders allow 3.5-5% down when the property is owner occupied? Is this lender specific?

2. How long is the “owner occupied clock”, meaning how long do I have to live in the property before doing another house hack?

3. Once I do one house hack, will lenders allow me to do another 3.5-5% house hack on another property?

I’m looking in the North Denver area. I am in my preliminary search phase but these questions kept popping up in my head and I didn’t know a better source of knowledge than the bigger pockets community.

Any help on this topic is appreciated!

Thanks

Bobby

[Jose Juarez]

I am gearing up for my first major investment, house hacking sounds like a great option for younger people. As a retiree I am not sure it is super viable for someone like myself.