FHA or Conventional for Units

[Michael K.]

Hello everyone.

I am trying to buy a 2-4 unit and to live in one of the units and to count the other units rent are income. 

One lender told me he can account for 75% of the rent as my future income, but I have to put down 30% on a conventional.

I read somewhere on a FHA website that, FHA can finance up to 96.5% = (3.5% down). And FHA can use 90% of the rent as future income. If that's the case I can get well within the 41% DTI ratio.

P.S

I don't have any previous rent income to show on my taxes so I have no history (which banks like to see)

Any info would be greatly appreciated!

Thanks