Getting pre-approved for a home loan.?

Do you think that I will be able to get pre-approved for a house loan.

House information:
I am buying the house for my daughter (in college) and her husband (just graduating college). The house is 74,000. After she graduates college in December they are going to re-finance the house in their name. They are both school teachers.

About me:
I have GREAT credit. I have 5% to put down on the house. I have never had a problem financing anything before. I have a lot of money in investments. But I do owe some money on credit cards at the moment.

Downfall:
I own rental property and that is how I make a living. I have had all of my rental houses for a very long time, and paid cash for all of them. However, I do not claim my rental property on my income tax, so I guess my technical employment status is unemployed.

I just don't know if I will be able to get approved for a house loan since my technical employment status is unemployed even though I have money to pay for the house.

Note: This is in Texas.

They were going to buy the house and me just co-sign but they could not get pre-approved because neither is working yet.

I have been with my bank for about 25 years and I live in a small town.

It would best if they bought the house and you co signed

Give them the 5% to put down

You may have to come up with more than 5%. Loans are tight right now and credit is being scrutinized very very closely. If you have a good bank and have been with them a long time, go and talk to them. If one of your rentals is paid off, you could probably use that as collateral.... talk to a banker.

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