💡 How to Buy a Home and Pay $0 in Rent Using House Hacking Loans 🏘️

🏠 House Hacking Loan Options: Live for Free While Building Equity 💰

July 18, 2025•2 min read

🏠 House Hacking Loan Options: Live for Free While Building Equity 💰

💡 How to Buy a Home and Pay $0 in Rent Using House Hacking Loans 🏘️

🏘️ House Hacking Loan Options: Buy Smart & Live Free

If you’ve ever dreamed of owning a home and reducing your housing expenses to zero (or close to it), welcome to the world of house hacking. This real estate strategy is perfect for first-time buyers, veterans, investors, and even self-employed borrowers looking to make smart financial moves.

What Is House Hacking?

House hacking is the practice of buying a property—typically a multifamily home, duplex, triplex, or fourplex—living in one unit, and renting out the others to cover your mortgage. In some cases, house hackers purchase single-family homes and rent out rooms to roommates.

This isn’t just about saving money. It’s about building wealth through real estate while minimizing out-of-pocket living costs.

🔍 Top Loan Options for House Hacking

Here are the most popular mortgage programs that make house hacking possible:

1. FHA Loans (3.5% Down)

· Perfect for 2–4 unit properties.

· Lower credit score requirements.

· Must live in one of the units for at least one year.

2. VA Loans (0% Down)

· For eligible veterans and active-duty military.

· No mortgage insurance.

· Can be used on 2–4 unit properties if one unit is owner-occupied.

3. Conventional Loans (5–20% Down)

· Ideal for buyers with stronger credit and income.

· Can be used for single-family homes with roommates or small multifamily properties.

4. HomeReady & Home Possible

· Fannie Mae and Freddie Mac low-down-payment options.

· Income limits apply but perfect for first-time buyers.

5. Bank Statement Loans (For Self-Employed)

· Use business or personal bank deposits to qualify.

· No tax returns needed.

· Useful for investors and gig workers.

💡 Pro Tip: Use Rental Income to Qualify

Most house hacking loan programs will allow a portion of the projected rent from the other units (or rooms) to count toward your income. That means you can qualify for a larger loan—even with modest personal income.

👷 House Hacking Renovation Loans

Want to buy a fixer-upper and house hack it? Consider:

· FHA 203(k)

· Fannie Mae HomeStyle

· These renovation loans allow you to finance repairs and upgrades into the loan.

✅ Final Thoughts

House hacking is one of the smartest ways to start building a real estate portfolio while living affordably. Whether you're a young professional, a military veteran, or a side hustler looking for financial freedom—there’s a loan option to help you house hack your way to wealth.

👉 Ready to explore your financing options? Contact Medallion Mortgage today.

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Bill Rapp - Commercial & Residential Mortgage Broker

Whether you're a first-time homebuyer, a seasoned investor, or a business owner with ambitious plans, securing the right financing is crucial. At Medallion Funds, we take the guesswork out of mortgages, offering a comprehensive suite of residential and commercial loan options to fit your unique needs. Looking for Your Dream Home? We understand the excitement and challenges of navigating the residential real estate market. Our experienced mortgage brokers will guide you through every step, from pre-qualification to closing. We offer a variety of loan programs to suit your financial situation, including: • Fixed-rate mortgages: Offering stability with predictable monthly payments. • Adjustable-rate mortgages (ARMs): Providing competitive rates for a set period. • FHA loans: Making homeownership accessible with lower down payments. • VA loans: Rewarding veterans with attractive rates and flexible terms. Investing in Your Business Future? Growth often requires capital, and we can help you unlock the potential of your commercial property. Our brokers specialize in a wide range of commercial loan options, including: • Purchase loans: Financing the acquisition of new buildings or land. • Construction loans: Facilitating the development of your project. • Refinance loans: Restructuring your existing mortgage for better terms. • SBA loans: Providing access to government-backed financing for qualified businesses. The Medallion Funds Difference: We go beyond simply finding a loan. We take the time to understand your goals and develop a personalized strategy. Here's what sets us apart: • Expertise: Our brokers have a deep understanding of both residential and commercial lending. • Competitive Rates: We leverage our strong lender relationships to secure the best possible terms. • Streamlined Process: We handle the paperwork, keeping you informed every step of the way. • Exceptional Service: We're committed to providing you with a positive and stress-free experience. Ready to Take the First Step? Contact Medallion Funds today for a free consultation. Let's discuss your financing needs and help you achieve your dreams!

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