MFH Loan Financing w/ Rental Income

[Jason Riddle]

I am considering buying either a triplex or quadplex sometime next year. I plan to purchase a unit, live in one unit, and rent the other units. Also, it is very likely I will be unemployed next year due to quitting my job. I will only have one year of rental income on my tax returns.

Assuming that I have a high credit score, I have the following questions:

1. Can I qualify for a conventional loan or FHA loan solely based off of projected rental income?

2. If so, will only 75% of the rental income be considered as income?

3. Are there any other loan products that I could potentially qualify for if I don't meet conventional loan or FHA loan requirements?