FHA loan refused due to rents?

[Darnell Kramer]

Good morning all,

I have been trying to find some info, and know that there are smart people here that may have the answer.

An associate is selling a 4plex.

The new buyer/offerer was supposedly approved for the amount.

The buyer now says that FHA will not approve the loan because the rents that are shown on the appraisal are too low.

Has anyone heard of this?

I asked the associate if the buyer was truly pre-approved for the said purchase amount and they said yes. I think though that the buyer needed the rents for the DTI to get approved.

Thoughts?