Hi Mary,It is true the lender will not usually give you the rehab funds in advance, but this does not mean that you must complete all of the rehab out of pocket.

This approach allowed me to close the purchase quickly and provided the flexibility to fund the mid-level renovations needed to bring the property up to rental standards.

I don't think refinancing will make sense here at all, Assuming your property does appraise for $166k, and you take out a loan at 75% LTV, that will give you a loan amount of $124,500Assuming your loan fees are the following: Origination: $2,490Underwriting: $1395Processing: $500Title/Escrow/Other Closing Fees: $1800Prepaids: $1,300Subtracting the payoff + loan fees that would leave you with $17,015 at closing.

They will fund 45% of the loan at 1.5% for 20 years.

Since lenders will not lend cross-border, you'll have to provide US collateral, like taking a HELOC if the collateral is real estate, or you'll have to use love money or pay cash.But maybe it's not that a bad thing if your land has increased in value in case you'd want to sell it you can't get the funding.

and it's also difficult to find 80% LTV these days.  70-75 is more likely. 

You can bet on where you think the fed funds rate will be with Fed Funds futures contracts, and right now that market has the fed funds rate all the down to 3% by June 2025.

NSPIRE will be used for all HUD funded housing programs.With NSPIRE, inspectors for HUD-assisted and HUD-insured housing will be able to conduct objective, defensible, and consistent assessments to evaluate housing conditions.

This sounds like your situation, Brody.It may be easier and more convenient to find one lender that provides both the purchase and rehab funds but don’t feel that your hands are tied.

People funding in 2nd position behind hard money at 75%+ CLTV on flips with aggressive ARV's, people funding EMDs and closing costs for "wholesalers" who have completed 1-2 deals and dont have $5k to their name, etc.