Hi Connor, This is my understanding on this type of loan.The FHA Loan  is mainly an insurance program by the FHA (government entity) that allows low down payment on the purchase.

My take is that if Patch of Land is strictly following their compliance obligations under the SEC and other State & Federal regulations, this should be taken as an extreme positive.  

 A lot of banks go to 95% like Navy Federal or penfed and various other CU's.TCF like Paul mentioned is not a fixed or closed end second like you said you were looking for its a HELOC which is considered an open ended loan since its a line of credit and can be used, paid down, and reused/ "open."

I didn't do home improvements and shop all day - I was actually working full time for the Federal Government (I said I did the crappy stuff after work) - as I still do today.  

I've talked to dozens of banks that think that their bank's policies are federal regulations.

Went to a free tax liens presentation where they sell a 3 day work shop and their software for $600. Anyone know how successful this venue is? Thank you!

Just be aware that when they stop paying rent, you can go through the trouble of suing them, but you cannot collect on a judgement against anybody who is on any government income.

This property is not in "Beverly Hills" by any means, it's rough and our tenant pool will be a lot of section 8 type people but it's literally 1 block from the State Capital and other government . 

stay away @Judy Le  that just smells 'not legal' and when you mess with federal govt funds, you do go to jail/prison.  

I would imagine that the Federal Laws in the United States would be dramatically different than the laws in Canada.