All Forum Posts by: James Lian

@Jonathan Taylor@Dave Skow Yes, it is virtually impossible. I just wanted to exhaust all possibilities to see if there was anyways. But thank you to everyone for your help and response. I learned a lot from all the answers! : D

@Vanessa Ng I see. That would be very hard to qualify for considering a property like that would cost around 550k-600k and considering we are trying to do 5% down w/ interest rate around 5.875%...

P&I: 3,287.47

HOI: 250

Tax: 902

MI: 200

Total: 4,639

If there is an income limit how would they expect to make that work with the DTI? The only other income would be the expected rental income which we can use 75% of. But I am not sure even with that we could make it work with the DTI assuming there are no other liabilities. Do you want to take a crack at it for me? I see that you are a nationwide lender.

@Jonathan Taylor @Logan McKay Zylstra @Vanessa Ng @Wayne Brooks

Hi all, could you please see this link and let me know what you think? Especially my lenders Jonathan and Vanessa? Does it seem you might be able to do it with Freddie instead of Fannie? Please see Freddie HomePossible guidelines. 

Link: https://sf.freddiemac.com/cont...

Thank you to everyone for the response! It seems there is varying response here also. @Vanessa Ng @Jonathan Taylor

@Logan McKay Zylstra Logan, could you please point me towards any lender that does 5% down conventional on 2-4 unit? 

Hi all!

I know that you can do an FHA 3.5% down on a 1-4 unit property as long as you occupy one of the units as your primary residence. But could you do the same for a conventional loan? I am getting different answers and I am finding that it may depend on the lender. If so, could you guys please let me know of any lender that would do this?

I live in DFW area and would like to buy a property somewhere in Garland. I am also a first-time homebuyer but would like to house-hack a 4 unit property. Thank you so much in advance for everyone's help!