Hearing dates are presently around 1-2 months presently (though obviously that can change).

You will find rates all over the place just like with all insurance.

This may kill your cash flow due to high interests rates though. 2.

Honestly, I don’t think my happiness or sense of contentment has measurably changed during this time.

FYI, we were able to get a 5.5% rate from their recommended lender with 20% down.  

Do this hoping to keep your heloc balance below this number so you are paying less interest based on your average balance vs the rate of your first mortgage payment.

We all know how things can change. 

Question: Should I collateralize the loan (if using private or hard money), or rely on roll-over loans (to maximize the lower points and 3-4% rate)?

Gifting equity in a house may be more trouble than it is worth if you are not near the life-time exclusion1) Potentially having to get the property appraised everytime an equity is gifted2) Having a title company update the title every time3) Exemption of the gift tax return is normally for cash gifts below the annual gift tax exclusion, you may still need to file if you gift non-cash4) If there is partial ownership over several years, having to properly pro-rate certain items such as real estate taxes, mortgage interest and rental income if the property is a rentalBest of luck 

That worked well when rates were 3.5% but that "strategy" no longer exists.