Qualifying for an FHA Loan: College Income Level

[Brandon Martinez]

Will I be approved for an FHA loan with my current "income"?

The following would be what I consider to be my channels of annual income:

•  Mentor position ($4,000)
• Grants for school 
•  Future income from tenants living with me 

My issue is that I technically can not state that I have a job. For my mentor position I am paid through a scholarship prior to the start of each semester. I do not file a W-2 or any paper work like a normal job requires.

To my knowledge FHA recognizes government grants as a form of income. I am not sure about scholarships and income from future tenants.

I look forward to any advice!