Most have loans at half of today’s rates.  

The Programs includes or covers:- Up to $2.5B in second loan purchases- A maximum programs duration of 18 months- A maximum loan amount of $78,277- A minimum seasoning requirement on the first mortgage of 24 months- Only for Primary ResidencesThe effect of a guaranteed government backed second mortgage for homeowners would be significant and likely put eligible second mortgage terms in line with below market FHA and guaranteed first position mortgage rates. 

I was looking to payoff the underlying loan of $156K, and add construction hold-back of $250K. 

Maybe you can ask a family member for a loan.

Im wondering details how commercial loans work.  

Alternative income options are available but will reduce the maximum loan to value. 

I have an SBA loan on that one and it only cash-flows me a few hundred dollars a month.  

Look for markets with diverse job opportunities, population growth, and a strong local economy.Financing: Explore your financing options, such as traditional mortgages, home equity loans, or investment property loans.

I finally paid a guy $2K to empty it and clean it up a bit and sold it through a wholesaler for $10000 to a young, big-talking investor from out-of-town who was positive that all he needed was some basic repairs (that he confidently told me he knew all about).To date, that property is still under renovation.

Rents are at market level now and I paid off the loan from the proceeds of another house I sold.