HELP! Trying to salvage a Multifamily FHA deal

[Eric Robinson]

After working several weeks on my first deal, Wells Fargo is telling me in the 11th hour that I don't have enough in reserve funds to get the loan. It's a house-hacking deal using an FHA loan to buy a 4plex. Since November, the mortgage specialist at WF has been telling me that I will have no problem getting the loan.

Now I'm being told I can't because a good portion of the funds I've scraped together are from student loans. According to them, student loan $ I have in savings can't be used toward the down payment, closing costs, or the 3 months worth of mortgage payment reserve required by the FHA.

I really don't want to give up on this deal.  Has anyone overcome this problem or a smiliar problem?  Is there anything creative I can do to get this deal done?