First time real estate investor, looking to house hack

[Slayd Casey]

My wife and I are looking to house hack in Lawrence, KS. The big issue is we are only pre qualified for a 250k FHA loan. I am worried that wont be enough to buy what we are looking for. Any suggestions?

[Andrew Postell]

@Slayd Casey so, your current lender is using the rental income from the other unit to help you qualify?  Make sure they are doing that.  If not, I would seek out a 2nd opinion from another lender.  Meaning, if you go back to them and they say "Oh, sorry forgot about that part...now you qualify for more" - that would be a serious issue that they missed something so basic.  And that's why I would go get a 2nd opinion somewhere else.  If they are using the rental income, I would still recommend to get a 2nd opinion somewhere else.  This is such a personal question based on income and credit that there's really no way of knowing for sure without you telling us all your personal info...so just go get a 2nd opinion from a good lender.  I know, it's the same recommendation but I wanted to tell you why I was saying these things.  Ask your real estate agent who they would recommend. They usually have good recommendations for lenders.

Hope all of that makes sense.