Condo-hotel Purchase Financing

[Teri-Ann Pi]

I'm planning on making an offer on a condo-hotel in Vegas. This will be my primary residence (at least for awhile) and might become a rental/hotel unit later. This isn't my part of my investment portfolio so I'm not expecting to cashflow. Anyhow....

I'm told that I can't get conventional financing and would be required get a DSCR loan, put 30% down at have a rate of 8-10%. Does this sound right?

I anticipated maybe a 20% downpayment and a loan rate a bit over conventional financing?

The property is in Neveda, I'd be happy to get recommdations for another mortgage broker. 

Thanks!