Looking for some advive on refinancing (? about rental income)

[Gene H.]

BPers:

I had some questions I was hoping to get some answers in the forums. Here is my situation:

Goal: I'd like to refinance my primary residence into an FHA loan. I owe $182,00 and FMV=$225,000

Challenges I'm facing: my Debt to Income is too high if I can't count my rental income.

I have only been a Landlord since July, 2015 (so under 2 years) with my first rental. If it makes a difference I do show rental income on the last 2 tax returns (2015 and 2016).

Also, will a Lender consider future income from another rental I own but will not start renting until May 1st?

Thanks in advance for any help,

Gene

[Chris Mason]

Why FHA? It's not the most REI friendly option out there.