DSCR loans are based off of down payment, credit score and either actual or market rents so it helps to supercharge an investor's real estate goals and net worth.

.: I haven't passed this past legal review so for what its worth: Part of my standard requirements for everyone include income is at least 3X rent, minimum credit score, say 640, Clean record and no evictions as well as deposit is paid in full at signing of lease and 1st month rent is paid in full prior to handing over the keys.

Check credit, income, and rental history.

This is a good opportunity in a strong market, and with your excellent credit and HELOC funds, you’re in a great position to make this project happen.

However I would say those lenders would be more willing than a bank to write the mortgage, and after completion you can refinance it.Overall, its probably easier and better use of your time to just find another house that doesn't require the construction and where the numbers make sense.

I am now 29 and wanting to grow at a faster rate- and also ensure that I am making smart moves, rather than just grasping at whatever a bank will give me.

Conclusion: Don´t give your credit card infos for "free" products!!!

John I rented a 4 plex i remodled in charleston as the flip market had slowed.. the tax's on it were substantially higher than an owner occ property.. could be the rates were different this was a 1.2 mil prop..

House hacking is financially a no-brainer and no city in the US (including Chicago) has more duplexes than Milwaukee.

Effectively offering more than 100% financing.