Discover How You Can Qualify for an FHA Mortgage Without Making a Payment


Imagine you want to buy a house, but you’re worried about making monthly payments. In this story, we’ll learn about a smart way some people buy houses without worrying about the cost each month. They do this by renting out parts of the house to others!

Finding a House with Extra Space

Choosing the Right House

First, think about a big house divided into four smaller homes, called a “quad-plex.” This means one big building is split into four separate places to live. Imagine you want to live in one of these, and let the other three parts be rented out to other families. Each family pays you rent every month because they get to live there.

How Rent Helps You

Now, let’s say each family pays you $1,000 every month. That adds up to $3,000 total from all three. But, when you want to buy this house, you don’t get to count all that $3,000. You only get to count 75% of it, which is $2,250. This is a rule by the people who help you buy the house.

Making the Numbers Work

Using Rent to Qualify for a Mortgage

When you buy a house, the people who lend you money look at how much money you make every month to see if you can pay them back. This is called your “DTI” or debt-to-income ratio. The $2,250 you get from renting out parts of the house can be added to your regular income. This helps because it makes it look like you make more money than you actually do, just from your job.

Special Cases Where This Really Helps

Some people, like those who get money from Social Security because they are older or need extra help, have used this trick to buy houses worth a lot of money, between $300,000 and $400,000. Because the rent money covers their payments, they don’t have to pay anything extra as long as the spaces stay rented.


So, by renting out parts of their house, some people can live in their own home without having to pay a lot each month. They use the money they get from renters to help pay for the house. This is a clever way to own a home and not worry too much about monthly expenses.

Try It Out Yourself!

Now that you know how some people buy houses without making payments, maybe you can think about it when you’re older. It’s like having a secret trick to getting your dream house!

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