FHA loan with a co-borrower and almost no prior income?

[Navid Goudarzi]

Hello, I'm a 20 year old university student from Texas. I've been studying real estate investing outside of school for most of my time at the there. I'm also attending the university for basically free, just to let you guys know that it's not much of an expense. I earn money by delivering with UberEats and I also do some freelance web development, but I haven't been earning money for that long so I don't have anywhere near 2 years of consistent income (my credit score is 720 btw). I have over 7k saved up for a down payment on a $200,000 single family home with an FHA loan at 3.5% down, I know that's not really enough especially with closing costs, but my older cousin is willing to pay for half of it and own half the property and have me in control because he has a lot of money laying around that he was planning to put into real estate anyway. I was going to rent out the other 2 rooms to people I know that are already willing to pay. Both my father and my cousin can easily qualify for the loan on their own if that helps also. My question doesn't really have to do with finding undervalue deals or anything. I just want to know if you guys think that it's possible for me to get financing/pre-approval for the FHA loan. I'm probably going to at least try anyway, but I was just wondering what you guys think. Lastly, my aunt is a loan officer, I don't know if this is too relevant since I doubt she can give me preferential treatment, but I'm not sure how lenient lenders can be. Thank you so much, I appreciate your time.