There are plenty out there with fair rates and lower fees.

How do you prove the change?

Estimated cost for remaining changes (all new electric, drywall, tile, fixtures, cabinets, roof, doors, windows, heat pump, some siding, and fencing.

You can legally change or cancel a contract if all parties agree. 

You will owe monthly payments until you fix the property up, rent it out, and refinance to a more traditional 30 year fixed rate product. 

But don't let them know it.It amazes me how many of our members at MassRealEstate dot net have an Asset worth $300-500k Rent it for .5-1% of value and hardly pay attention to it, yet chase a tenth of a percent in CD rates;-)

Unless you have a really bad listing, changes are you are asking too much if you are not getting much interest on rentfaster.

Based on what you've told us, your rate should be at prime (7.5%), unless you are over 80% LTV, then it would be prime +1.Jeff

We have never collected that and it is not a significant cost.Also be very careful changing criteria mid stream, I would only change it between vacancies. 

With your brother’s $50K equity already in the property, this should make the loan-to-value ratio favorable for refinancing.HELOC monthly payment on $68K: ~$300 (depends on your rate and term).Lease payment from brother: $800/month.Future mortgage (refinance $68K over 30 years at 6%): ~$400/month