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All Forum Posts by: Sandra Pinzon

Sandra Pinzon has started 6 posts and replied 11 times.

Chicago Real Estate Forum

Post: House Hacking in Chicago - Can a MF cashflow with no downpayment?

Sandra PinzonPosted
  • Posts 12
  • Votes 3

Hi Everyone, just as a caveat I'm brand new to BP. 

I currently live in Chicago and qualify for a VA loan. Overall, I want to know if its possible to house hack in Chicago with no down payment? I'm currently looking for properties under 400K but, with no downpayment, the mortgage for properties seems to be higher/or barely cover the mortgage payment. A couple more questions:

1. Should I find a real estate agent that has experience w/ VA loans?

2. From my understanding, the VA requires properties to be almost "move-in ready" i.e. no structural damage, crazy repairs. Do good MF deals typically require a lot of repairs (if so, it would be harder to qualify for many "fixer uppers" with a VA loan).

3. Does any know any good articles/networks that have experience with veterans/using the VA loans?

0 Votes
Chicago, Illinois