DSCR loans won't use your income to underwrite the loan.DSCR loans are based off of down payment, credit score and either actual or market rents so it helps to supercharge an investor's real estate goals and net worth.Here's a bit more in detail about how rates are calculated for DSCR loans:1.

The shorter term will impact your payment quite a bit for sure.

The CU offered me $200k, interest only or principle and interest payments.

I know it doesn't affect your mortgage payment already.

What you are referring to is a  DSCR loan which the lending companies do provide, they do require decent down payment and it must have good cash flow.

And, if the home has, at minimum, retained its value then 8 years in loan payments should have reduced the debt therefore creating a potential profit when sold. 

I can put a large down payment and seller is apparently willing to carry due to the unfinanceability of the land.

Hi BP,What is the typical arrangement for partnerships when one partner does not have capital to invest but they have all the other elements:Partner 1:Owner-occupied,  Great credit, No capitalPartner 2: Non-owner occupied, Capital , Great credit Does partner 1 get a percentage of equity plus percentage of cash flow? 

Your monthly HELOC payment is way, way, way too high.

I live in a fairly expensive community , sought after , houses are late 1960's .Price range non waterfront $650K to $750K in good shape .