For those that qualify for conventional financing its another negotiation tool, for those that do not its a way to get into real estate but many do not understand what it is they are signing up for.Regarding it being good for an owner, again it goes back to the borrower, if I have a borrower with 800 credit and I control cashflow its far different than someone with 540 credit.

This option can allow your property to cash flow at a higher rate because the monthly payment would be cheaper than if you were to have a conventional loan; then once rates come back down you can decide to refinance on to the traditional 30 year fixed.They require much less for pre-approval and look more into the asset that you're looking to purchase than they do things like credit score.I hope this helps!

If you're strictly buying turnkey properties and financing with DSCR loans, keep in mind that you'll typically need to put down 20% or more, and because of the higher LTV, you’ll often get the highest interest rate available for your credit bracket.

Rate will also be in the high 9s depending on PPP and credit.

I got a PA for 300k/FHA loan. 720+ credit score, 75k cash, and good income.

What documents do they require, what credit scores do they allow, how do they verify previous rental history, etc.?

What documents do they require, what credit scores do they allow, how do they verify previous rental history, etc.?

Overall, it looks like a good deal, something you could probably even take to a local bank or credit union for financing.

Great credit.

There are many HMLs that will finance new construction, but much of it is based on your experience, credit score, and the expected sale price.