| FHA | Conventional | VA | |
|---|---|---|---|
| Minimum down | 3.5% | 3-5% (1 unit), 5% (2-4 units) | $0 |
| Units | 1-4 | 1-4 | 1-4 |
| Mortgage insurance | Up-front plus monthly | Monthly until about 20% equity | None monthly; funding fee unless exempt |
| Rent to qualify | Other units; roommate rent with 12-month history | Other units, per lender rules | Other units, per lender rules |
| Must live there | Yes | Yes | Yes |
FHA roommate (boarder) income since 2025
FHA updated its rules in 2025 (Mortgagee Letter 2025-04). Lenders can count rent from someone renting space in your home if they have lived with you at least 12 months, paid rent in at least 9 of the last 12 months, and will keep living with you. That income can be up to 30% of your qualifying income.
Colorado down payment help
Colorado Housing and Finance Authority (CHFA) and some cities offer down payment help for qualified buyers. Rules and funding change, so ask a lender who works with CHFA.
Next step
Talk to a lender before you shop so you know your real budget. We can connect you with lenders who do house hack loans every week.
Questions people ask
Which loan is best for house hacking?
It depends on your cash, credit, service history and the type of home. FHA is flexible on credit, conventional 5% down can be cheaper over time with good credit, and VA is often best for eligible veterans.
Can I use VA for a fourplex?
Yes, VA loans can be used for 1-4 unit homes if you live in one unit and meet VA and lender requirements.
Can I house hack again later?
Usually yes. After you have lived in the home for the required time, many people move, keep it as a rental and buy another owner-occupied home. Your lender explains the rules for a second owner-occupied loan.
See your real numbers in 2 minutes
Plug in a price and rents and see what you would really pay to live there. Then book a free 30-minute strategy call with Simon or Ewelina.
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