If you're looking to apply for an owner-occupied multifamily home loan up to 4 units through FHA, a lender will check your credit as well as evaluate your income and assets. Be prepared to share things like your W-2s, tax returns and 1099s. Additionally, you'll want to provide statements from any bank and investment accounts you want to use to qualify for the mortgage.
In addition to your personal financial qualifications, your property will be evaluated to give an appraised value. You’ll also receive a fair market rental value, which is used to help qualify you for the mortgage payment with rental income.