New Loan Options Provide House Hackers A Viable Tool To Get Started

[Zach Whiting]

Hey All! With the community banks no longer the only game in town offering 5% down for owner occupied multi families we should see a shift in demand and utilization for 2-4 family units. Keep in mind - the property still needs to cash flow for your own purposes outside of the self sufficiency test - but if you've been trying to find a way to get involved without a large down payment this is definitely a game changer. They haven't finalized the terms and guidelines, but I'd imagine they're a bit more strict than FHA. In any case - another tool in the toolbelt.