If your intent is to occupy the property and assuming you qualify with income and credit you should have no issues getting into a Conventional, FHA or VA loan if you are VA eligible.
When you do buy your next home and rent out the town home you may need to qualify for both payments unless you have 30% equity in your town home and a renter in place.
The following is from Fannie Mae's guidelines: https://www.fanniemae.com/content/announcement/0816.pdf
Conversion to an Investment Property:
Fannie Mae will continue to permit up to 75 percent of the rental income to be used to offset the mortgage payment in qualifying if there is documented equity of at least 30 percent in the existing property (derived from an appraisal, AVM, or BPO, minus outstanding liens).
The rental income must be documented with:
â€¢ a copy of the fully executed lease agreement; and
â€¢ the receipt of a security deposit from the tenant and deposit into the borrowerâ€™s account.
If the 30 percent equity in the property cannot be documented, rental income may not be used to offset the mortgage payment. Âƒ Both the current and the proposed mortgage payments must be used to qualify the borrower for the new transaction; and 6 months of PITI for both properties is required to be in reserves.
Note, that some lenders don't require this if they are using or are a portfolio lender.
Best wishes and good luck,