It is the interest rates at which banks lend to each other and is short for Secured Overnight Financing Rate. 

Loan Security: The property will serve as collateral for the seller-financed loan.

-------------------------------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

Also HELOC's typically have lower interest rates than personal loans since it is secured by your home.

You could tell them to cancel the listing and you will find someone else to list it after a month not 4 months (the market take is subjective too, all dependent on what your house has compared to others, where it is located, the size of it, and so many other factors).

I should have been more clear...I actually have a BLOC with multiple properties securing the interest.

Investment Info:Small multi-family (2-4 units) other investment. 31 duplex development located on the East side of San Antonio.

@Sang Kim- thanks for clarifying you are trying to get a commercial loan ...this is a  completely different product than a home loan ...You still should be able to  locate and obtain a good commercial loan  without  having to pay any fees upfront  ( other than possibly paying for the appraisal after the  loan has been  approved )

Understood I made a bad move here as this was first investment so didnt think much except at the location for longterm growth or possibly I move there as part relocation.

I’m targeting assets between 25-100 units located in high-growth markets that exhibit strong fundamentals.