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House hack guides by market
How much money do you need to house hack a 2-to-4-unit property?
Less than most first-time investors expect, because owner-occupant loan programs apply to small multifamily as long as you live in one unit. On a $400,000 duplex the cash to close looks like this:
| Loan | Down payment | Closing costs (2–3%) | Cash to close |
|---|---|---|---|
| FHA, 3.5% down | $14,000 | $8,000–$12,000 | about $22,000–$26,000 |
| Conventional, 5% down | $20,000 | $8,000–$12,000 | about $28,000–$32,000 |
| VA, 0% down (eligible veterans) | $0 | $8,000–$12,000 | about $8,000–$12,000 |
| Investor loan, 25% down (for comparison) | $100,000 | $8,000–$12,000 | about $108,000–$112,000 |
Three things move those numbers. FHA adds an upfront mortgage insurance premium of 1.75% of the loan (about $6,750 here), which is normally financed rather than paid in cash, plus an annual premium in the monthly payment. FHA requires three months of reserves on 3- and 4-unit properties, none on a duplex. And sellers can pay part of your closing costs, so a negotiated concession can pull the FHA line under $20,000.
The calculator above shows the same table for your actual price, loan type, and rent assumptions, then carries it through to the monthly number that matters: what you pay to live there after the other units’ rent.
How the house hack calculator works
Enter the purchase price, the number of units, the rent you expect from each unit you will not occupy, and the loan you plan to use. The calculator then:
- Builds the full monthly payment: principal and interest, property tax, insurance, and mortgage insurance for FHA or low-down conventional loans.
- Subtracts tenant rent net of operating costs, with vacancy, maintenance, and management reserves, to show your true housing cost. In cheaper markets this lands near zero; in expensive ones you may still cover 40% to 60% of the payment yourself.
- Checks loan qualification using the lender convention of crediting 75% of projected rent from non-occupied units toward your debt-to-income ratio.
- Runs the exit: cash flow, cap rate, and cash-on-cash return once you move out and rent every unit, which is when a house hack becomes a normal rental.
A standard rental calculator answers “does this property cash flow?” A house hack calculator answers “what does it cost me to live here, and can I qualify?” Those are different questions, which is why the inputs here include your occupied unit and owner-occupant loan terms.
Duplex, triplex, or fourplex?
A duplex is the cleanest first house hack: one tenant, usually separate utilities, and the rental unit typically covers 60% to 90% of the payment in lower-cost markets. Triplexes and fourplexes cover more of the payment but bring FHA reserve requirements, more turnover, and a self-sufficiency test on FHA 3- and 4-unit loans, where 75% of total projected rent must cover the full payment. Run each configuration through the calculator before deciding; the math, not the unit count, should pick the property. For the strategy in depth, read house hacking in 2026: the math every first-timer should know and the duplex versus triplex comparison.
Frequently asked questions
What is house hacking?
House hacking means buying a multi-unit property such as a duplex, triplex, or fourplex, living in one unit, and renting out the rest so tenant rent covers part or all of your housing cost. Owner-occupants qualify for low-down-payment loans like FHA, which is what makes the strategy accessible.
What does the house hack calculator show?
Your true monthly housing cost after tenant income, whether the deal can qualify for owner-occupant financing, tax benefits, and an exit analysis showing how the property performs as a pure rental after you move out.
Can I model an FHA house hack?
Yes. The calculator models owner-occupant financing including FHA and VA loans and checks qualification from the numbers you enter.
How much money do I need to house hack a 2-to-4-unit property?
Plan on roughly 6% to 9% of the purchase price in cash with an FHA loan: 3.5% down, 2% to 3% in closing costs, and reserves. On a $400,000 duplex that is about $14,000 down plus $8,000 to $12,000 in closing costs. Conventional owner-occupant loans allow 5% down on 2-to-4-unit properties, and VA loans allow 0% down for eligible veterans.
Does rental income from the other units count toward qualifying?
Usually yes. Most lenders credit 75% of the projected rent from the units you will not occupy toward your debt-to-income ratio, which is often what makes a first house hack qualify. The calculator applies that credit in its qualification check.
Is the calculator free?
Yes. Your first analysis needs no account, and a free account includes 3 full analyses with every Pro feature. After that, Pro is $29 per month for unlimited analyses and exports.