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All Forum Posts by: Cody O'Connor

Cody O'Connor has started 2 posts and replied 3 times.

Private Lending & Conventional Mortgage Advice

Post: House Hack Down Payment

Cody O'ConnorPosted
  • Posts 3
  • Votes 1
Quote from @Mike Davis:

@Cody O'Connor if you are planning on living in one side, you can apply for an FHA loan with 3.5% down.


 Thanks Mark! This helps! 

0 Votes
Jersey City, New Jersey
Private Lending & Conventional Mortgage Advice

Post: House Hack Down Payment

Cody O'ConnorPosted
  • Posts 3
  • Votes 1

Hi Everyone - I am looking to do my first house hack in New Jersey. I want to purchase a multifamily unit that has one 3/3 and one 3/2. My understanding is that I would be able to do this with 5% down, but I just got off the phone with a lender who told me that I needed to put down 15%-20% minimum. Can anyone confirm if this is correct?

Additionally, would I be able to use projected rental income to help qualify? 

Thanks! 

0 Votes
Jersey City, New Jersey
Starting Out

Post: Best Landlord Bank For Starting Out

Cody O'ConnorPosted
  • Posts 3
  • Votes 1

My wife and I are about to close on first investment property and want to find a bank specifically to manage our rental income and security deposit. Considering a a local credit union or trying to open an additional account through our current chase personal. Any suggestions or insights?

1 Vote