So for example, a 761 credit score will be in the 760-779 credit category, then going down to 740-759 and so on.2.

I also can take out a home equity line of credit on my current home....but I need direction. 

They’re asset-based, meaning the loan is secured by the property itself, and they often have quicker approval times but higher interest rates (think 10–15%) and fees.

Here's a bit more in detail about how rates are calculated for DSCR loans:1.

I have great credit but limited capital.

This will allow you to remove the person and do the financing on your own.Home Equity Loan/Line of Credit: Since you're looking to access equity, a home equity loan or line of credit (HELOC) can be a good option.

@Adedotun Kembi Most lenders will only lend a total of 65-75% on a rental and at much higher interest rates due to the higher risk.

When it comes to managing your mortgage, most homeowners are familiar with refinancing as a way to lower monthly payments or take advantage of better interest rates.

@Hank Bank BRRRR is probably want you want to do.Buy, Renovate, Rent, Refi, Repeat.Before you go all in and either find out you don't like being a landlord or you make costly mistakes, start with just the next one.You'll have some challenges with tapping the equity in the townhouse:1) What loan amount can you qualify with your credit & income?

Im self employed, roughly make $130k gross anually, 1099 NEC , no debt at all, 740 credit score.