We have out grown our home and DW and I are tring to figure out a way we can buy a bigger home to suit our needs and accommodate our growing family. Our current home is worth $30K less then what we originally mgt so selling it is out of the question (I think). 

I was thinking that my only other choice to make this work is to rent it out, and then see if we could get pre-approved for another mgt. Has anyone done this? What are some of the stipulations and requirements to get an approval from a lender?

Do I have any other options................?