I did lock in a decent rate, so that is in my favor.

In other words, the government is concerned about an immediate affect on mortgage rates, because rates are so high today, and will be cautious in their approach.

Loans Not Owned by Freddie or Fannie If your loan is held by a private lender or another institution, it’s important to evaluate the interest rate.

Due to the current interest rates, you probably can't live for free, but you can definitely learn how to house hack in that first year, reduced your personal housing costs, learn the rent by room/co-living strategy on-site, and then probably break-even after move out, but most importantly, it is possible to make that work in 2025 with today's rates.It just takes being open-minded and willing to be flexible for the 1st year.  

However, rates are not great right now so taking out the money necessary makes the monthly payback greater than what we could get in rent.  

Interest rate- prime plus? 

Invitation Homes’ stock has traded at a particularly large discount to NAV since interest rates began to rise in early 2022, but the gap has widened by 10 percentage points in the past year.

Usually, a Sub-To deal has a better rate than the market rate and so does seller financing.

I was playing with the idea of selling my condo, taking 300k of the equity to put a down payment towards a house listed at 660k.I'm assuming the reno will run $300/sqft and going in with the assumption that phase 1 will run 750k (figure the expansion of the house will have to wait) for the gut reno.I assume/hope (but definitely not banking on) that I will be able to refi in 2-3 years at a lower interest rate; if not for a lower rate.This will likely be a family home for the next 5-10 years at LEAST so investment value isn't quite at top of mind ATM.Questions:Even if it's not for lower interest rate, do you feel it's advisable to refi to remove the 203 loan in the future?

The property is located on St Augustine Beach and other STRs have high occupancy rates, solid ADRs and are very profitable when managed correctly.