Possibility of house hacking while in college? Advice?

[Ethan Schultz]

Next school year, I'll be attending Virginia Wesleyan University in Virginia Beach, VA. Curious if there's any advice as to how to go about the process of finding a property and whether it'd be possible to make it work or if it would be better to just live on campus. Not sure yet if I'm going to do it right away or wait for my sophomore year so that I'm able to build up more capital.

[Andrew Postell]

@Ethan Schultz whenever you apply for a loan they analyze 3 things - income, credit, and assets.  Even if your credit is good, and you have assets...you'll still need income.  Ok, there are these "different" types of loan out there that don't need income - but your rate will be significantly higher and so will your downpayment requirement.  So, if you want a "traditional" mortgage (with the lowest downpayment and interest rate) you'll need those 3 things.  I purchased my first home, which I house hacked, while in college.  It is possible.  If you think you have those 3 things covered then go speak with a loan officer and see what they can qualify you for.  It should be free to do.