Used an FHA loan as owner occupying with a 3.5% downpayment.

Hey @Patrick Braswell  You shouldn't have any issues getting a DSCR loan as long as you have at least 1 borrower who owns 20 to 25% of the property, or if a couple of you can get to that level combined. 

We closed on the construction loan June of 2021, the permit came through Nov of 2021.

I am also on the loan.

(DCSR loan?)

Question: Should I collateralize the loan (if using private or hard money), or rely on roll-over loans (to maximize the lower points and 3-4% rate)?

I am looking into my first property and have been pre-approved for a renovation loan from a conventional lender.

I believe the investor may need a commercial loan at that point or could do 3 separate loans since they are on different parcels.

I'd need the interest rate to be roughly 5% to breakeven on an interest-only loan, and was considering a balloon payment in 5-7 years.

Also add if you are getting any type of loan on the properties a Wyoming LLC will not make you anonymous as you will need to sign the mortgage in your name: