Even credit tenants investment grade interest rates are about 6.5 to 7% right now.

It would be unethical for lenders to pull credit just to get you a quote, while it would almost be foolish to go with the first quote received.

Also, has anyone reported delinquent rent to credit bureau?

The company can run it who has a proven track record and the necessary insurance in place.

This is a very broad question but to give a general answer, the reason why they exist is to finance properties that won't fit the typical bank credit box.

There are some additional things that could help determine which loan product is best for your situation.203k Best When:- Credit scores 680-720 or less- Renovation will improve the value of the home more than 75%- Renovations will be on or in the home - no new yard projects, only fixing existing- Higher Debt To Income (can get approval with up to 56.9% dti)HomeStyle Best When:- Purchase + Renovation costs will come in higher than FHA Limits- Home improvements will only improve vale 75% or less - 720+ credit or 20% down (of purchase price + reno cost) to avoid PMI- Exterior Projects (fence, hardscaping, pool, outdoor kitchen)- Lower Debt To Income (sometimes as high as 50%, many times between 45-50%)- Renovations that are greater than $35,000 (soon this will move up to $75,000)Happy to answer any other questions that you may have!

If not, then they'd need to come up with a plan we'd be happy with like:  Have us get 2 estimates and get a credit at close equal to the lowest one or something.   

Just earlier this year I got my buyer below list price, a large credit towards closing costs, and it appraised for higher.

Then some tenants you can bluff and will send you the rent and you credit towards your interest payments.. others wont they are afraid of being evicted. 

My application is electronic, which in itself is a huge screening tool, and it also automatically manages criminal and credit checks.