Most hard money works like this Rates: 9% to 13% (Most Deals are 11-12%)Terms: up to 36 Months (Most Deals are 6-12 months)Fees: 2-4 points(%) of loan amount paid at closing (Most Deals are 3 points(%))Minimum Loan Amount: $50,000 (For loans less than $250,000 $2,500 minimum fee)Max Loan: 65%-70% of After Repair Value(ARV)100% Rehab Financing Available (Require 20% of purchase price down payment or cross-collateral)Closing Timeframe: 48 Hours - 3 Weeks (Most Deals are 2 Weeks)NO PRIMARY RESIDENCES, NON-OWNER OCCUPIED ONLY, BUSINESS AND COMMERCIAL USE ONLY.

My brother is interested in selling his house to me, however, I’d like to keep the existing 2.9% interest rate on his mortgage.

I thought it was their job to look everywhere to find the best rate and terms.

@Fenzee PierrePart of your question depends on your objectives.

As for mortgage rates coming to the rescue...

With any house-hack comes some sacrifices as well: factors such as location, value-add vs turnkey, size, rent to price ratio, short-term vs mid-term vs long-term renting, and your ability to jump into the next one quickly all depend on you as the buyer. 

When it comes to rehabs, I’ve seen in the forums a good rough estimate is $20-$100/sqft, dependent supply the severity of the rehab.

I locked my interest rate and I understand you normally can't get out of that rate.

There is not one method to doing this and it mostly depends on how much paperwork you want to do.

Would you rather pay a highrt monthly PM rate and have no added on fees?