Anyone dissing Jerry, or anyone else out there who is genuinely putting in the work and deserves every penny they EARNED - In addition to dropping gems that are unmatched in the industry are either under a rock, or don't know what they're talking about because they haven't put in 2 mins of the work to give the man a chance.

Your interest rates are low. 8.5% is around the "market rate" for owner finance buyers right now...30-yr, fully-amortizing2.

I will say that during that time, the HELOC interest rates were very low.  

I have a 2.5% interest rate on the balance of the mortgage. 

They are short term loans, usually 6-12 months, high rate, interest only payments. 

When it comes to managing your mortgage, most homeowners are familiar with refinancing as a way to lower monthly payments or take advantage of better interest rates.

The interest rate is not special nor is the 20% down (80% LTV).  

@Kerry Hermann - the posts by @Michael Ewers and @Samuel Coronado were solid advice (I don't know Nita Cook whom Sam referenced, so that's the only part of his post I can not comment on).I second what Michael said about the market here - it was fantastic from 2017 (when I started) through 2022 - then it really started to crater in 2023 (although we still found some deals), and the bottom completely dropped out in 2024 (found one small commercial deal and one residential flip deal in 2024 - that's it). 

I have a feeling it was an internal "ball drop" that turned out to be very unacceptable.

Credit score and loan size can also affect what rate you may find.