College Investor who needs help!

[Sammie Reynoso]

Hi all!

First off, this is my first official post outside of the "member intro" sub! I am currently in college and I have wanted to expand my investment portfolio into real estate for awhile. I was looking into a FHA 203k loan and have looked into the qualifications of the loan. I have had a job for 2 years, I have a credit score of about 720 (only had the card for a little over a year) and I plan to "house hack" the property I (hopefully) get approved for. My only concern is that I make very little money since I spend most of my time in university. I know the DTI is a major consideration regarding getting approved for a loan so I was wondering if there is anything I can do to offset this downside? For instance, FHA loans only require 3.5% down but what if I save enough to put down 10% for instance? Would this offset the DTI situation or the fact that I make such little money per year?

Any advice/tips would be great! I plan to meet a mortgage broker next week and don't want to make myself look like a fool with such little yearly income. 

Also, the area I would invest in is around Connecticut.