DSCR Loan for $465K with 300K cash down-DENIED

[Amy Konopka]

I've been working with a lender who will not lend to me since my original intent was to create another Recovery Residence. Credit score high 700s. Other property cash flows a couple grand/month.

I told them-OK--I'll rent out to a family, totally easy to pivot. 8Br/5 bath house gated community in Murrieta, CA. 

Appraisal already done. Comps out at $4400/month rent. On affordablehousing.net for 5K

Lender makes me sign docs promising its not a recovery residence despite having contracts and guaranteed notes from the County to fill the beds and more than adequately pay them back.  Okey Dokey. 

  I think I can get the sellers to hold off 30 days while I find a more open minded lender.  

1. Is there a certain amount of time I'm granted when it comes to lending? I put my $7650 in EMD down.

2. Is there a DSCR lender out there who isn't afraid of this Housing Model? If so, i'd like to connect because I do plan on scaling.