The HEI/HEA is not feasible because of the percentages most companies are wanting to take (some are over 50% of the appreciation from the date of the HEA).The biggest question is that we'd be losing our 2.875% rate, which will be paid off in 15 yrs.

I'm a little nervous too because the asking price is a little high for the amount of repairs that are needed, but I'm trying not to scare the owner with a low ball offer because I'm focused on getting him to finance the deal so I can get a low interest rate or no interest at all.

You can also check Turno to see what the going rates are. 

I should’ve mentioned that we currently have a 6.875% rate and just looking to refi into a lower rate because we want to take someone off of the mortgage, came across someone who offers a lower rate and curious if anyone else can match that rate.

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Hey Andrew, you can look at ACRA Lending or First Equity Funding.

I am not sure what to do, since I cannot create new companies for insurance options, and do not expect those prices or interest rates to go down anytime soon.

Check past home values and rental rates using sites like Zillow and Realtor.com or local house market reports.

For the acquisition I used my own funds, and for the rest I was able to secure a construction loan with the folks at BackFlip.

Most Veterans fail to refinance their home because it has a low rate.