I suspect a local bank/credit union would waive the seasoning with such a strong DSCR on this.And yeah, I was debating on the ARV, particularly given the amount of rehab you will do.

Dave, Jean and others must have same or more amount.

My concern is that I may need to invest a significant amount in redecorating the home to appeal to this new audience.I’d really appreciate your thoughts on this.

My original loan amount is $323K, balance left $319K at 7% and 28 yrs and 8 months left.

He then proceed go down $50k on their original offering to me because of the scope, amount of money, and my (apparently) my newfound lack of “experience”.

@Helena Goyvaerts rate for a 30-year fix would be at least 8.5% with some points (1% of loan amount).Most DSR lenders have a minimum credit score requirement from the applicant.

Got paid for it and really enjoyed it, but that same amount of effort if done for us would have taken us to some really lofty levels.My friend is extremely happy.  

Purchase price of the home is $800k.Option 1Conventional loan20% down: $160kPoints: 0Cash to close: $170,092Rate: 6.875%PMI: $0PITI: $5004Loan Amount: $640kOption 2FHA loan10.625% down: $85kPoints: 2.5Cash to close: $120,455PMI: $296.30PITI + PMI: $5,537Loan Amount: $715kWith option one, I am bringing ~$50k more to the table, but my monthly payment is $500 less and my loan amount is $75k less.

Currently, a hurdle that I am looking to get over is securing lending that will also have renovation costs built into the actual loan amount.

@Josh LansberryWelcome to the community and be ready for a huge amount of information at your finger tips.