With that low interest rate, you will have paid down a lot of equity in the deal and should be able to finance with a bank.

Private Money or Hard Money LoanHow it works: Short-term loans from private or hard money lenders to purchase the lot and finance the construction.Benefits: Easier approval and faster processing, focusing on the property value rather than your income.Downside: Higher interest rates and shorter loan terms (typically 6-18 months).

For $10K and a lower rate I'd be willing to consider delaying...but only if I knew that lender two was solid on closing in a relatively short timeframe.

@Noah BaconDo you have contact info for them?

If you house hack a single family residence by renting out  a room or two then you would have no property tax but if you buy a duplex you might have to pro-rate the property tax.  

However, if you didn't get the results you're looking for, please contact me so we can help and do right by you.Again, I appreciate all commentsI'm an open book and my truest desire is to help.Thanks.

I understand they have a little bit higher interest rate, but what are the risks of DSCR loans?

You have to put more money down and pay a higher interest rate and is limited to only 2% IPC.

One of the key challenges I’m facing is understanding the financing options available to someone without Canadian residency or a local credit history.From my research, it seems that a 35% down payment is often required, with interest rates around 7.5-8.5% for non-residents.

You contact them, say what the heck.