Small Multifamily Investor with Student Debt
I was wondering if anyone has had any experience getting approved for an FHA loan while having a large amount of student debt that is still in repayment. I have a steady well-paying job and good credit but my DTI is quite high (currently owe one years salary in student debt). Right now, I pay around a third of my income in rent and slightly less a month on my debt (accelerated payoff of 5 years). I am looking to finance a duplex/triplex where my total mortgage cost would come in around my current rent payment and therefore I feel comfortable that I would be able to afford the payments even without a tenant in the building. However, I am worried that the banks would not see it that way and would instead focus on the fact that a large portion of my income would go to debt payments each month. Has anyone been in a similar situation?