It just boggles my mind the knowledge floating around here and I literally don't understand ANY of it.

BP has a tenancy to float over trivial details like that.

HELOC's can be obtained without closing costs but their rates usually float. 

Hey BP,This is a question for all the newbies like me floating around.

It is floating and does not need to be glued down.

Just know that the 203k process makes it tough for contractors to give cheap bids, so expect pricing to be higher on a 203k loan due to the added paperwork and the float that the GC has to provide. 

Floating rate debt avoids these penalties. 

I see it float around from time-to-time on the forums, but I think this is one people don't ask enough! 

I have seen a few instances where lenders will go against this BUT the purchaser is very strong like they are buying a 2 million property with 3 years left and put 40% down but they make 1 million a year income and net worth is 10 million and loan is FULL unlimited recourse against the borrower.In that case the lender might agree to a loan like that because borrower is so strong and can float the vacant property until released making the mortgage payments.Now when you get into MTNL the banks underwrite differently as you have multiple income streams and businesses cash flowing the property against the debt verses one with STNL.Hope it helps.

We are planning to Brrrr, and we have the cash to float the project while we wait.