Explore strategies like house hacking or creative financing options, such as DSCR loans, to make the most of your leverage.

If you are looking to pull more cash out I'd go with the second option.

Alex,There are a few other options when it comes to your situation to get the cash out of the home. 

I thought a FHA loan would be the best option but now I am second guessing my choice since interests rates might be higher.

With that being said you do have lots of options.

If they encounter difficulties, they can consider Delaware Statutory Trusts (DSTs) as a backup option.

Quote from @Bruce Woodruff: I agree with having multiple options.

The Meter Save program was discontinued in Chicago in 2022 and it seems there are no viable options that I qualify for (I’ve looked at the department of waters options and I don’t fit the qualifications).this feels like I’m getting ripped off each month in the bill and am really needing support here.

If you would like I can also have someone from our team reach out to just give her some options.  

If you're both in and this is your best option, go for it.On the other hand, looking into multifamily buy & hold properties could yield similar results with less hassle.