I'm in the position to apply(depending on lender DTI requirement) for conventional financing through the builder at <6% interest rate in this current market.

Some lenders report to the credit bureaus for DSCR loans and some don't.

But these are still new and could be rejected by a lender. 

You might be able to find a DSCR lender to work with.My 2 cents,Mike

Perhaps this agent and vendor are ready to be creative, as 3 years is a long time to carry property with no income.If you have any specific questions about owner financing, feel free to contact me, I've done a number of deals like this on the private market. 

Hey Ryan,Most lenders can typically offer up to 80% Loan-to-Value (LTV) with interest rates ranging from 7-8.5%.

I’d recommend getting terms from private and hard money lenders.

Why invest in a private fund with what i understand is limited knowledge and limited oversight? 

As you know a foreclosures is a legal way for the lender to take over the property and sell it. 

@Richard Edgar doing a cash out loan on land is EXTREMELY hard...I might even say impossible...but I can't speak for every lender in the country on this though.