While we can technically get away with the thinking of having less restrictions, requiring more security, making demands such as life insurance being pledged on a key person as a borrower, drill down to the assumptions in commercial that allow greater leeway.A more sophisticated borrower, conducting business with a purpose to make a profit as compared to an unsophisticated borrower attempting to secure personal needs, such as housing.However, never think that "predatory dealing" or "predatory lending" or violations of fair trade, or what is customary for the size and scope of a transaction can be swept under the rug.  

I had a very hard time finding anyone to offer a line of credit on a non-primary property without the 6 month seasoning requirement, and I must have called over 100 institutions easily.

I don't think any financial institution will acknowledge a client's ability to cover a check over the phone anymore, at least where I live. 

I am not familiar with private lending, but I thought I would look into it as it seems to me that a good deal could be had all around if a private investor was interested in helping us to purchase the home and finance the necessary renovations, and for us to pay a monthly mortgage to the private investor.At this point, I have not, of course, had an inspector out to the home and do not know how much renovation it requires.

I'll check that out a little further.Unless you are trying to get a 'regular loan' from a bank or financial institution that is licensed either by a federal entity or the state to lend funds -- then there isn't much difference. 

Private & Hard Money Lenders will lend to an LLC.  

Due to the deleterious impact that the Proposed Regulatory Prudential Standards for Non-Bank Mortgage Servicers would have on the vast majority of chattel lenders making loans, Rishel Consulting Group respectfully recommends that chattel lending be recognized as a different form of lending from real estate lending, and be specifically excluded in writing in any recommendations made to the various states.

Like you mentioned above, get another loan, find a partner, get private lending.  

So some options to use other people's money are:Hard Money lenders - They lend out money based on the strength of a deal.

However given the correlation to commercial RE thought here was best.I've noticed on some of the financial products I've been pursuing/commercial loan apps, and personal financial statements, all of them have asked about life insurance.For any in the commercial lending realm or those who have filled out more commercial lending applications/financial statements than they care to remember, do you feel or know if the life insurance section carries much weight on  your application/ability to obtain the loan?