This can be avoided by doing a non-freddie or fannie loan. The best was to do this is to consider working with a credit union-- which have their own rules around this, so be sure to ask-- or with smaller banks that generally do not sell of their loans and go by Frannie or Freddie rules.
Best wishes with your move!
If you need any assistance when you come to Troy, I'd be happy to help you!
REALTOR, CRS, ABR, GRI, CSP, CDPE
You'll want to have a signed lease to submit with your application and other documentation. It may come down to your debt ratio and whether you can qualify for the additional payment. The lender may not consider your son as a reliable tenant or will discount the total rent your collect to around 75%, to cover additional expenses such as maintenance or vacancies.
It will also depend on your down payment for the new home. The larger the down payment, the more secure the lender will feel.