@xDotComx I couldn't find consumer disclosures in my closing documents but I recall I was sitting around 740 FICO at the time.
And my lender was Amerisave at the time (an FHA certified lender by HUD)
This 4plex was built 30 years ago in 1996.
I bought it from an 80 year old man in 2021.
It only cost me $10k to close.
I house hacked it on an FHA loan at 3% interest.
This is one of my retirement vehicles. Iโll make another $500k on it in 10 years.
I think about this a lot.
Good question.
House hack means you move in one unit using a conventional or fha loan. The unit becomes your primary residence and the rental income from the occupied units counts towards your qualifying income on the mortgage.
After a year of living in the unit you are qualified to vacate the unit and rent it out - converting the entire property from a primary residence to investment property.
Conventional and fha loans allow you to house hack multifamily properties such as duplexes, triplexes and fourplexes (instead of buying a single family home). The lender guidelines differ based on the type of loan but both loan types qualify and allow house hacks.
I scored a 53% out of a passing 66% grade.
And because of technical issues I didn't get a chance to finish the exam.
I left 7 questions unanswered.
But to take some accountability for myself I can prepare better.
I get a retake so I'l retake it again in two weeks.
I failed the exam.
The PSI workstation crashed on me.
Random chat popups from the proctor distracted me.
Deployments were suspended without telling me so no changes applied.
I knew the material but the environment sucked and ate my time.
Iโll retry again soon.
I failed the exam.
The PSI workstation crashed on me.
Random chat popups from the proctor distracted me.
Deployments were suspended without telling me so no changes applied.
I knew the material but the environment sucked and ate my time.
Iโll retry again soon.
Scored a 75% on the CKAD Exam Simulator.
Thatโs above the 66% to pass and receive certification.
And the simulator is meant to be much harder than the real exam.
2 weeks until the actual test but I feel pretty good I can learn what I missed and didnโt finish.