Originally posted by Derek Nienaber:Hi Bill,"You can provide a loan modification approved by the bank to be accomplished immediately upon the purchase of the note, this, along with the waiver and request for the sale by the borrower takes the bank's liability away selling a note to a non-banking/mortgage broker type buyer.

The answer is yes, 2nd lien DSCR loans exist and more than one lender can do them, but you would probably have to up your credit score to be able to get up to a total of 75% ltv between 1st and second lienOtherwise, you would have to get lucky on a favorable appraisal.

Originally posted by @Julie Sisnroy:I, too would like to revive this post. 

I’ve got some buildings with great interest rates that just won’t cash flow with less than my original 20% equity.

I think some folks search for discounts so that's a way for being promoted.Seems guest dont rent a 4 bedroom house unless they have triple the amount of guests they originally reserved for.  

We were told the secondary market started rejecting the lower priced paper that they were originating and they were forced to raise the rates.  

Also, securing financing is no different than site built unless you're dealing with  someone that has no experience originating loans. 

What documents do they require, what credit scores do they allow, how do they verify previous rental history, etc.?

A "total reno" can mean it's all original and very outdated but livable or it can be an absolute disaster with foundation issues and sewer and water problems.

Originally posted by @Mark Whittlesey: I would get a UPS Store (or similar) box instead of a PO Box.It costs more but is much more flexible (is an actual physical address, can receive UPS and FedEx etc.)I had a PO Box for a while and got rid of it for exactly those reasons.