As far as I know, conforming loan guidelines won't let you use rental income for your primary residence from roommates.

Legal entities are not eligible for conforming residential loans. 

There are many options with these types of lenders as they don’t have to conform to Fannie and Freddy guidelines.

"Non-conforming use" might be some other language you might look into. 

Hello all.  This is my very first post and would love to get some help from the BP community.  I'm looking at a legal 3-unit-multi-family deal with a 1-story-single-unit building in the front and a multi-floor-2-unit ...

.- Sometimes an appraiser will comment that the property is "legal non-conforming (grandfathered)" or something like that, and generally you are good to go.- Long gone are the days of cherry picked appraisers.

Jumbo (Non-Conforming) Loans: A mortgage loan that exceeds the amount that is acceptable by the government if the loan were to be resold (on the secondary market) to Fannie Mae and Freddie Mac.

In the lending world there are basically 2 types of loans for these properties - "Conforming" loans or "Portfolio" Loans.A "Conforming" loan is a loan governed by Fannie Mae and Freddie Mac (if you recognize those names).

Some lenders are starting to offer this without seasoning but it is not a conforming mortgage.

However, things have gone awry the past few days:The MLS listing states the property is a "non-conforming legal triplex."