Hard money and DSCR loans generally do not vet the borrower enough to meet these regulations.

With your $1,100 rent and the potential for an improved loan structure, it's worth reaching out to DSCR lenders who are flexible on reserves and leverage.Key Points:Highlight your strong FICO score and existing equity.If your DSCR ratio falls short, some lenders allow exceptions for high-FICO borrowers.

Hey @Brad Roche - We do a significant amount of renovation loans (both Fannie May & FHA) here in Chicago and prefer the Homestyle loan only because it's less stringent on the borrow about what they have to repair, and they provide the general contractor a material draw at closing which helps the project start on the right foot.I thought the minimum down payment was 5%.

We understand that not every lender will provide us with a commitment letter due to risks outside of our control (the market, covid, the borrower, etc).

Start by talking to a bank/loan officer to see how much you can borrow. 

Have you borrowed any money for the duplex or do you have an investor?

It’s basically an unlimited contribution Roth, with tax free borrowing. 

Most banks/credit unions have clauses that prohibit borrowed down payment funds or seconds on the property. 

It depends. all you talked about was the property but financing is more about the borrower, their experience, their credit, the cash available etc.

There may be some lenders that might be a little more "borrower friendly", but I haven't found them (nor do I have the time to look for them).You might be able get better terms if you "house hack" by getting an FHA loan, but I don't generally work with those loans.