Is it mandatory to live in the property when house hacking

[Ismail Sogbaike]

Let’s say i get a loan from the bank to house hack, is it actually mandatory for me to live in the property or can i just lie to the bank and rent out all the rooms and continue living at home or is this not allowed when house hacking, I’m just getting started so I’m not sure if I’m asking a dumb question to most of you who are more experienced.

[Andrew Postell]

@Ismail Sogbaike hey, it's ok here.  If you don't know, then you don't know.  To purchase a home with a Primary Home loan, the requirement is to occupy the property.  However, you only have to occupy the property for 12 months.  So, it's not long of a time period. Plenty of people out there who just purchase a home, live in it for 1 year, then go purchase another primary home.  But you do have to occupy.