Believe it or not, there are people out there that don't believe in borrowing or carrying debt.

You borrow $100,000 but only get $98,000 because there is a 2 point fee. 

I've seen this many times, last month we had someone from fort still in OK to the JBLM Lewis Mcchord and that resulted in a higher BAH (more expensive market) but also because of promotion in Rank from lieutenant to captain.Just make sure you figure out the approximate increase in pay and if it will be non taxable because you can also gross up your non taxable portions of your pay 125% or 1.25X as well (usually its just the BAS/BAH but not your base pay).This will allow you to figure out your borrowing power ahead of time. 

The customer/borrower will have a contract with the contractor, in addition to the HOCA (Homeowner Contractor Agreement). 

I would also recommend him to prepare to answer questions such as, how much are you looking to borrow for the property and for the renovations?

It's an opportunity to borrow money, sort of like a credit card.

That would work only if you could borrow from your home equity at less than 3.8% interest, which won't happen if you're trying to refinance now.

Heard that they have the legality to do it due to loss of cause, but the banks don’t usually do it if the borrower has a good record in paying their debt with good credit history.  

What works for one, others will shun, so give real thought to what you really want and need in the way of inventory financing, and then examine the trade offs.Many community owners use outside investors, others use private individuals as lenders with you as the commercial borrower.

So, if you borrow $100K you might actually get $94-95 from the loan.Now, maybe when you say "free" you mean "no down payment".