Banks like to match short term assets with short term liabilities, and vice versa.I don't believe that DSCR loans are "expensive", but they do require a more thorough underwriting and higher amount of financial documentation other private and hard money loans.It generally helps to have a Fractional CFO or Loan Consultant (not a broker) that will work on your behalf to negotiate better DSCR terms and rates.

So you would likely need to go business purpose like private money or DSCR financing.

So I had an idea to get a loan from a Private lender for 400K (just under the asking price of the home) this house is already appraising for over the asking price but need some TLC.

We have buildings with no parking lot and private entryways, so tenants are responsible.

If you are seeking an actual private lender or direct HML  consider starting your search here: https://aaplonline.comThank you so much.

For a passive route, private lending or investing in syndications/REITs can offer steady returns without property management.

So if you'd like info on this, then private message me.

Used 0% cards and found private money to pay most of the cards.* Aiming to refinance with a rate-term dropping down to about $3,500/mo, so we could live for free.

@Keegan Darby  To truly compare private lending to holding you'll want to pin down your ROI a bit more.

A minor hurdle for some, but a larger issue to some as well.With DSCR or private money lending, yes, you can still also vest in your individual names, but you will find many lenders will NOT allow it or will actually charge you higher rates to do so.