The credit unions in Grand Rapids are ok but since they do some many other things in addition to mortgages I have found that they oftentimes are not the best resource for people in unique situations.I would recommend you reach out to a mortgage provider such as Treadstone Mortgage in Grand Rapids to see what they would advise you to do.

Based on the unique need of the seller, you structure a contract that benefits and protects you while simultaneously meeting their needs.

Pay close attention to the repayment terms of your HELOC because they can vary wildly.  

My question is, how should I word the repayment portion to reflect that the principal and interest will be repaid once the property is refinanced since the banks are taking a long time to close these days?

My thought is that I should pay them to avoid additional penalties/problems and I am hoping that they would legally be required to repay them to me as part of a redemption total.  

What Unique Platforms and Technologies do you Offer?

I it is interest only so there is no repayment period.Personally I would only pay interest on the HELOC until you refinance.

The siding is old and unique, and I haven't been able to find anything to match.

That's what I thought I was just curious if there was something unique.  

Hard money lenders lend based on collateral securing the loan, and they are less concerned about your ability to repay.