Unsecured loan @ 9.5% for 24 months

[Sean Tippens]

We currently have the deed to a property that we need to rehab. The conversation starts with finding the 25k for the Reno. This will be the first time, for us, using another type of funding that isn't our own cash. We talked to our local credit union and the most money they can offer on an unsecured loan is $13k. We don't know if using the property as collateral is wise since we want to use this property as a BRRRR. Would having the property's collateral effect us with the refi later? We also went to our local bank and they can offer the 25k for 24 months at 9.5%. Is this a reasonable offer, what is a good interest rate for this situation? Any suggestions?