I'm surprised lenders are jumping on this as I think it's a potentially highly lucrative opportunity for them as the properties are extremely credit worthy and can be cross collateralized - that being said, I understand this is new territory and therefore there isn't a framework for it yet (again, opportunity!). 

These 2 items will take down a credit score but do not necessarily reflect the credit worthiness of the applicant. 

Further the federal funds rate is the rate at which institutions lend to the most credit worthy peer institutions not the retail mortgage rate.Jibran Najmi

You could get a personal loan based on credit worthiness with repayment term anywhere from 3 to 15 yrs, but the APR will likely be over 10% especially for longer terms.

FHA mortgage products exist to serve an important mission: providing homeownership opportunities to creditworthy borrowers who are overlooked by conventional lenders," says NAR President William E.

Cash on cash return is infinite.)You seem to be really financially sound with $240k in the bank and $215k equity ....why do you think you have poor credit worthiness?

Lenders will look at (1) track record of sponsor (2) credit worthiness of sponsor (3) amount of sponsor's cash investment in deal, (4) terms as spelled out in PPM and Operating Agreement, (5) legal compliance as to Federal and state Securities laws, (6) experience and reputation of securities attorney representing sponsor/syndication, (7) legal audit to determine likely hood of lawsuits by investors, (8) profitability of property (9) debt coverage ratio (10) return vs risk analysis (11) property appraisal.

I'm  interested in purchasing my first property there but I was wondering what's the average renter in Garfield like (age, income, credit worthiness etc)?

It will obviously be listed as a huge derogatory on her credit, and will serious hurt her creditworthiness for at least 7 years, during which time it's unlikely she'll be able to qualify for much of anything - maybe after several years if everything else is squeaky clean.Sofi was the program I knew of.

New cost = $10,750 = 10.75%For the pain and suffering of proving to an entity that I am credit-worthy I charge $2,000 an hour to gather my finances and put hat in hand.  3 hrs min.