Thanks for the good information xbanker!

We are going to hold out until next year, or sometime in the future when it would potentially be possible to buy it out right when they drop the price again

At that point in time we may also refinance, and if possible take money out. Right now we have a few renovations to complete prior to this, but either way we need to just to save money since our rate is well over 1% higher than standard right now!!