Comparing two GFEs... at what point in the process must we choose?We are working to buy a larger home as our primary residence, and rent out our current home. We have two year's rental history on this home for 2011 and 2012, but we moved back into it in 2013 to be closer to family and to fix it up. Lender A said we cannot count what the rental income will be on this home because we are currently living in it, and because we have less than 30% equity in the home. Because of this, we have a very high DTI and can't qualify for a Conventional loan. He said we qualify for an FHA loan, but we have to pay off our car loans and therefore deplete our reserves...Lender B is claiming that she can count rental income on our current home, we don't need to pay off our car loans, and we don't need to show reserves in the bank. She says she can get us into a Conventional loan. My question is are lenders really so different in their requirements? Or is Lender B blowing smoke? Can we fill out loan applications with both lenders and see who - in the end - can actually give us the better deal? I realize we would be having to pay for two appraisals, but if we don't have to pay off our car loans and can actually get a Conventional mortgage we would rather do that... February 24 2014 - Bremerton00YesReport a ProblemProblemSelect oneOffensive contentIrrelevant contentSpam (pure self-promotion)OtherDetailsYour emailPlease enter a valid email address.Submit CancelContent flaggedWe will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.We're sorry. This service is temporarily unavailable. Please come back later and try again.