All Forum Posts by: Zach Click

@Emily M. Awesome information and thanks for taking the time to respond. And when you say not just having the tenants pay half the mortgage and it should *cash flow*- it should be cash positive without us paying anything towards the mortgage, in a house hacking situation at least? Apologies for the newbie question!

@Joseph Pochinskas awesome, thanks so much for the info! I'll look into the FHA 203k and reach out with any questions or comments. It's reassuring to hear you had success with it.

@Emily M. Thanks for the feedback. In your experiences are there opportunities below that pricing level for duplex/triplex in the near downtown Chicagoland area? For example, west town, bucktown, Logan, humboldt park, roscoe village, are all areas we have been perusing and I haven’t seen much in that price range. Perhaps we haven’t looked long enough to need to expand our search geographically. Thanks!

@Cody Barna thanks Cody! Appreciate the input.

Hi All!

As a first time home buyer, my wife and I are looking to househack our first property with either a duplex or triplex type building in the Chicagoland area.

Given the cost of property here and the FHA loan limits, it doesn't look FHA is an option. What are the other low down payment loan options for this type of investment in a high cost housing area? On several recent threads it was said that lower down payments (~5%) for conventional loans are tough to come around now.

Any input is super helpful for a potential first time owner occupied house hacker!

Thanks!