That to give me extra cash but also when bankers are looking at your income they really are not considering OT as part of your income they are giving a better score if you actually have a second source of income rather than OT.

The interest for a few months would be no where near $5000 and if you pay it off in a a few months it isn't going to effect your credit score very much and any effect would be short lived.If you borrow and someone wants a 1st or 2nd mortgage (which they should) then you will have additional legal fees to create the mortgage or lien against the property.John Underwood

I could walk away and sue for damages (a few thousand dollars) or negotiate with the threat to hold up any other sale.If I had huge damages such as had sold a property to purchase, etc. the attorney believed that I would get the lesser of the damages or the value of the non-disclosure ($60K).I ended up getting a $9K discount on the property ($750K to $741). 

They say something like "oh your credit score went down."

That chart shows you how many loans you can have (10), what credit score you need, what reserve requirements you need etc.  

Account ClosedBuying in winter sucks, and you have to factor in not only holding time, but the part where contractors and sub also are unwinding with the family during holidays, which means that the rehabs are kind of really slow post Thanksgiving to all the way into first week of Jan.Using your own cash or private money with lesser cost is better than HML.

After that long winded approach I am looking for advice on what banks look for when it comes to personal finances, credit score, cap rate, collateral ect.

Tips/tricks:1) Note that these peer-to-peer lending loans are unsecured loans so they are treated much the same as a credit card balance on your credit report.2) Your credit score may go down if the large loan increases your DTI (debt to income) ratio.3) Make sure you don't take the money out too much in advance of when you need it because you need to make monthly payments.4) Since these are not "mortgages", you could use this to get funding to buy a house (either by itself or combined with funds you have saved) then make the payments for a year until you reach the seasoning period most banks want, then refinance into a longer-term, lower rate loan. 

Btw, my credit score is about 800. 

I sent the banker an email and will have to wait until Monday to speak with them.The up side is still that I was approved before the appraisal because of my 820 credit score so she said the appraisal was just to set the % of the LTV for the line.Good luck and I hope you were able to find a good local bank.