Military, government workers, families relocating or displaced due to a tragedy, students traveling for internships, and digital nomads are all different customers who need temporary furnished housing. 2. 

The latter will have higher interest rates whereas the former has a 2% interest at my local credit union. 

After spending a long time in the "education process" of binging BP youtube videos, reading books and doing searches throughout this forum, I decided to take action and purchase my first property utilizing the VA Loan given my military status.

Looking for a bank/credit union that would give a heloc/cash out refinance on a property that is vacant that I have title insurance for 

@Cliff Durrett  - thanks   1) family  2) friends  3) reitement account loan 4) personal loan from your bank 5) leverage a car  ( unlikely to obtain from a bank or credit union )  6) local bank / credit union 

Call all the community banks and credit unions in your area, and ask what their parameters are for HELOCs using your FICO range that you pulled.  

Marketing, overhead, operations, what have you, this could be baked into your rate, furthermore, your lender is most likely not even providing the capital to fund the loan nor will they service it unless they are a credit union or the type of lender that does service it.

Location: Chesapeake, VA (large military town) Market Value: $360,000Loan Balance: $245,000Equity/Second position note: $115,000 (30 30-year amortization / 10-year Balloon Payment, 6.5% Interest, $727 monthly payment) - Bringing cash for this would save a ton of money for the buyer.Rate: 2.25%Years Left: 26Current Monthly payment: $1,300 (including taxes/insurance)Current Rent: $2,000Scenario 1: -If you were to purchase with a new VA loan at 7% interest at market value your monthly PITI would be approx.: $2,757-If you were to assume the loan and I carried the second note at the above terms your monthly PITI would be: $2,027Saving: $8,760 per year.Scenario 2:-If you were to bring the same $115,000 as a down payment on a conventional loan you would pay: $1,992-If you were to assume the loan and bring cash for equity position your monthly PITI would be: $1,300Saving: $8,304 (with no need to refi in the future)Since this is a hypothetical situation I'm going to give my number based on nat. average homeownership of 13.2 years.

Even though he has an American military APO address, he's not picking up the Registered mail package from the base. 

Look for military and civilian workers selling their homes, for transfers out of town, or trade ups for bigger homes.