Are you tired of throwing money away on rent? House hacking with a duplex lets you turn your housing cost into a wealth-building opportunity. By living in one unit and renting the other, you can significantly reduce your housing expenses and build equity.
”At NMHL, we work with borrowers in exactly this situation every day. We understand the uncertainty, the frustration, and the worry that comes with navigating a mortgage during a significant life event. You are not alone, and your situation does not have to be a barrier to homeownership.
Our licensed loan officers specialize in finding the right path forward for borrowers in complex circumstances. Whether your situation requires specialized documentation, alternative qualification methods, or simply a lender who takes the time to understand your full financial picture, we are here to help you move forward with confidence and clarity.
Your Path Forward
Proven Solutions for Your Situation
FHA Duplex Financing
Get into a duplex with as little as 3.5% down using FHA financing. NMHL's FHA loans allow you to use 75% of the rental income from the second unit to qualify for the mortgage, making it easier to afford.
VA Zero-Down Duplex
Veterans can purchase a duplex with zero down payment using their VA loan benefit. With no mortgage insurance and immediate rental income, this is one of the most powerful house-hacking strategies available.
Conventional Duplex Loan
Conventional loans from NMHL allow you to finance a duplex with as little as 5% down when owner-occupied. You can use the rental income to offset your mortgage payments and build wealth.
Personalized Guidance for Your Situation
No two mortgage journeys are alike. Our experienced advisors take the time to understand your unique circumstances and find the best path forward.
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Understanding House Hacking with a Duplex
House hacking involves purchasing a multi-unit property, living in one unit, and renting out the others. With a duplex, you'll live in one unit and rent the other, using the rental income to help pay your mortgage. This strategy can significantly reduce your housing costs and build wealth over time.
NMHL offers various loan programs tailored to house hacking, including FHA loans with as little as 3.5% down and VA loans with zero down payment for eligible veterans.
Important: Owner-occupancy requirements typically require you to live in the property for at least 12 months.
Benefits of House Hacking with NMHL
- Reduced Housing Costs: The rental income from the second unit can significantly offset your mortgage payments, potentially reducing your housing costs to zero.
- Building Equity: As you pay down your mortgage, you build equity in the property, creating a valuable asset.
- Tax Benefits: Rental income properties come with tax benefits like mortgage interest and property tax deductions.
Ready to explore your financing options? Get pre-approved with NMHL today.
NMHL's Loan Programs for Duplex Properties
NMHL offers a range of loan programs suitable for duplex properties, including FHA, VA, and conventional loans. Our FHA loans require just 3.5% down, while VA loans offer zero down payment for eligible veterans. Conventional loans are available with as little as 5% down for owner-occupied properties.
Our loan officers can help you determine the best loan program for your situation and guide you through the application process.
Contact NMHL today to discuss your loan options and get pre-approved.
Getting Started with Your Duplex Mortgage
The first step in house hacking with a duplex is getting pre-approved for your mortgage. NMHL's online application makes it easy to start the process. Our loan officers will review your financial situation, credit score, and income to determine how much you can borrow.
Once pre-approved, you can begin your property search, focusing on duplexes within your budget. NMHL's expertise in multi-unit properties can help you navigate the process smoothly.
Ready to start? Apply for pre-approval now or contact us to speak with a loan officer.
Frequently Asked Questions
With NMHL's FHA loans, you can use up to 75% of the rental income from the second unit to qualify for your mortgage. This can significantly help with affordability. For example, if the rental income is $1,500 per month, you can use $1,125 towards your mortgage qualification.
Typically, you'll need to live in one of the units for at least 12 months. NMHL's loan officers can provide more details on the specific requirements for your loan program. After the initial occupancy period, you can refinance or convert the property to a full rental investment.
Yes, you can house hack with larger properties. NMHL offers conventional loans for 3-4 unit properties with as little as 5% down when owner-occupied. The more units, the more rental income you can generate to offset your housing costs.
Getting pre-approved for a duplex mortgage with NMHL is straightforward. Start by applying online or contacting one of our loan officers. We'll review your financial situation, credit score, and income to determine how much you can borrow. Our pre-approval process typically takes just a few days.
NMHL specializes in helping borrowers with unique financial situations, including those looking to house hack. Our loan officers have expertise in FHA, VA, and conventional loans for multi-unit properties. We offer competitive rates and personalized service to guide you through the process.