But now that we've closed on the property, we'd like to shop around for a conventional loan, so we can lock in a low(ish) interest rate before the fed increases.

But now that we've closed on the property, we'd like to shop around for a conventional loan, so we can lock in a low(ish) interest rate before the fed increases.

Plan Overview:Get FHA loan for 3.5% RenovateAfter a year,  Refinance to a conventional 30yr fixed loan to get lower interest rate, and get access to equity + remove MIP. 

Conventional LendingHow did you add value to the deal?

Due to seller's financial needs however, a full cash-out offer was ultimately agreed upon, and a conventional commercial loan with a 10 year term amortized over 25 years with 27% down was secured.

Conventional How did you add value to the deal?

Conventional commercial lending How did you add value to the deal?

We have a decent amount of capital and a few HELOCs available to be aggressive on offers however, we keep getting beat out by all-cash offers where we are just out of reach.With that being said, we discussed exploring the option of hard money or private lending as all of our other properties we have used our own capital and conventional loans. 

I’ll be using a Conventional loan 3.5/5% down. 

We've been mostly targeting conventional loans because we've been qualifying for low money down and want to avoid FHA if we can to increase our odds of our offers getting accepted...which hasn't been the case yet.