Does any lenders offer these DSCR loan terms?

I am getting different answers as to if we both need to carry coverage with us making the first loan and them naming us on their policy.

I have been told that it could be better to save the FHA loan for a later property (Possibly a personal one), if you can put 20% down for a standard 30-year fixed loan.

Worst case you can have your loan be "Partial Interest Only" which means the first 10 yrs of the loan are interest only, and the following 20 are fully amortizing.

The Commercial Loan Officer I am working with comes up with a Loan Amount of $336,000 (Total value is $448,000) because of the low rents.

Closed on this loan 2 months ago. 

Hey @Tori Rhodes - As a builder myself here in Chicago that is a question I hear often.Before looking into your loan options, I'd look long and hard at the cost of land and construction in your Grand Rapids area. 

You can use an FHA 203K loan and the conventional construction loan to do your rehab, these take longer than you expect as well.

Hi Danielle, Yes this loan does exist.

Some update about the lending requirement of my Chase loan program:Product:        DSCR > 1.2Borrower:     Net Worth > Loan Amount     FICO     Liquid Proof > 10% loan amount     DTI: They told me it is not important and don't mention about itIt looks like as long as DSCR of the product is used, it will likely borrower's DTI will not be used.