HELOCs are all portfolio mortgage products, and as such each lender makes up their own terms/conditions.

I currently own a property already and went through a lender to get an approval for another property.

Lenders are still unfortunately tend to be very conservative on the rent-by-room (SRO) type arrangements still - its an area that really could use some better understanding out there but just be careful with expectations because a lot of the treatment of these properties (even if nothing like a old-fashioned "boarding house") can be tough

Your Credit Score: 680+ or 700+ will get you better terms depending on the lender. 660 is the minimum for many lenders.

As of right now I know I need to add an attorney and contractor to my team to move forward.I have intentions of using a private lender and am looking for advice/guidance from anyone that has done a flip by doing so.

The commercial bank or lender will look at your overall portfolio, liquidity, experience, and other factors.3.

Hello Andrew,To answer your questions yes by going DSCR or blanket loan most DSCR and blanket lenders don't post the tradeline on your credit.

VA loan Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

I don't know of any lenders that would give me a loan or what the process would look like...

Under construction Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?