FHA Loan using rental income help

[Damon M Carlson]

Hello all,

I am in the process of getting an FHA loan on a 4 unit property. Originally the lender said that I would be able to use rental income to help qualify. After signing a purchase agreement on the 4 unit the lender contacted me and said they would be unable to use the rental income to qualify me for the loan. They then told me I would need to make around $1500 more a month to qualify on said property. I don't have a cosigner that would be able to also live at the property. I am at a loss for how to continue. Should I just look for a different lender or any other advice is appreciated.

Thank you