Can I rent out a room to help me qualify for a loan?

Generally no.  Lenders have no assurance that such income will be regular and continuing.  If you intend to live in the single family residence that you are purchasing, very few lenders will allow you to use "boarder income" or "roommate income".  Occassionally I'll come across a lender that allows such arrangements (OwnIt Mortgage did before they went out of business 2 months ago).

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Thanks,

Aaron