I would check with a different lender. Some lenders have different requirements with it comes to these restrictions. Call me and I will give you the number of someone who could probably loan on this.
I would not imagine that it will affect your ability to obtain a loan. However, it will go into the debt/income calculation. Have you thought about a Conventional loan with 5% down or if you are a military vet you could quality for no money down. I hope this helps!... more