All Forum Posts by: Kory Erickson

@Linda Garcia thanks for replying. I wouldn't be able to do a conventional because my dti was to high 49% I believe. So if I am able to get the exception then I will be able to use the rental income from my conventional home (departing residence)? Because with out the offset my dti it to high to qualify. 

Hello, I wanted to know if there was anyway around the FHA 100mile rule when it comes to using my rental property from the house I am saying at now to the house I want to get into with a FHA loan. The new house is a new build with great concessions the whole 6%. however I don't want to sell my current home and rent it out. I already have a co worker who wants to rent it out everything is lined up however because it not 100 miles away will I have problems with getting the mortgage approved, or is it possible to get an exception to the 100 mile rule because I had twins and want to move into a 4 bedroom from a 3 bedroom. Does this exception also let me use the rent from the conventional loan?