Instead, they typically employ a sales comparison approach to determine the property's worth, using the income to calculate the DSCR, which usually needs to exceed 1.0 for most lenders.Assuming you have a solid track record with the property and there's enough equity in the deal, leveraging the After Repair Value (ARV) on a sales comparison evaluation could enable you to refinance into a bridge loan until the necessary work is completed.Maybe a mortgage broker specializing in traditional loans could offer insights into construction-to-permanent loans

I intend to build a home that will be rented out to offset the costs of ownership.I can find construction to permanent loans on second homes easily. 

Still less than an FHA down payment and without the permanent MIP. 

I have a very odd situation:I basically bought a house for a friend of mine about a year ago and gave him a 5% interest only loan for the entire purchase/closing/renovation costs.Both he and I would like him to get more permanent financing.But, he does not have a social security number. 

By way of comparison, the same year I bought the lien on the 36 acres parcel of commercial land being discussed here at 16%, I bought a lien on a double wide mobile home affixed to a permanent foundation in some remote Arizona town, and I got that one at 0%.The bulk of the property is not in a flood zone.

Also want to know if the father needs to be a US citizen or permanent resident, as my dad is from a different country but I'm a permanent resident in PA.

Having a 24 month term on the front end will also make my job easier doing the take-out loan when it's time to refinance into permanent debt, because there's room in there for a full year of tax returns to have been done in the middle (if your exit plan is to sell, it'll also make it easier on your buyer who will presumably be willing to pay a higher price if they can get an A-paper good mortgage).Ask for a 24 month term, tell your contractor you want it done in a year (and make it financially worth their while if they can pull it off), internally/mentally plan on 18 months, and I'm putting you on notice now to do your tax returns on time, rather than extending them (don't fight me on this, please just do it).Trying to get a renovation mortgage like this for only 1 point is likely a waste of your time, but if you want to ask, after you've secured the above as a 'done deal,' go for it, can't hurt. 

Hi All,Can anyone shed some light on the permanent financing options for self storage?

I'm wondering since my evictions are all paid in full, and now have a permanent program for housing, will a landlord give me and my family a chance?

I would definitely get another quote for the work as that sounds high but would be a permanent solution in place with peace of mind moving forward.