And by selling the shovel ready lot, I don't need to pony up big sums of cash or take out large construction cost loans.

Instead, interest is accrued into the loan balance and paid at maturity (when the borrower either sells the property or refinances the loan).

Hi Denise - If you're eyeing a DSCR loan, maintaining your primary residence is necessary, as most lenders require it.Refinancing could provide quick access to funds by leveraging the equity in your primary property.

5% down first homeowners loan.

This is really disappointing because I am ready to purchase another property today but will not get approved or have horrible loan terms due to a 640 credit score.Does anyone have any recommendations on how to remediate this issue?

The only details I have currently are that he placed 10% down 5 years ago so is currently paying PMI on his loan.

I know a lot of first time buyer loans want you to stay in the home.

Or consider a hard money loan to help with your first flip.

Loan to value ratio: The higher the loan to value ratio (LTV) is, pricing takes a hit.

I will layout some information below and I am all ears to advice from there.Current savings: $12,500 (with the capability to pull funds from an IRA if need be)Currently working with a realtor I've worked with before in my rental market who is also an active investorI have the proper steps completed for a DSCR loan from a company found right here at BP and the process was smooth.