Trouble converting hard money to conventional mortgage

[Matt Ridenour]

Hi everyone.  Asking for my brother who is in a different part of the country than I am.  He purchased an Airbnb and has it up and running.  He used hard money to purchase and renovate.  It's been less than a year and so the mortgage companies won't touch it.  (I should also mention that both he and his wife are self employed.)

My suggestion was a dscr lender, but he is telling me he spoke with a lender regarding that with no success.  I am thinking all dscr lenders have different criteria?  HIs current rate is 9.75% but is adjustable and balloons in 5 years.  I'm hoping he can find a 30 year loan so that he can get out there and grab the next one.  

Does anyone have any thoughts on this?

Oh, one more.  Who is investing in the Danbury CT area?