should i let the lender know that i plan to refinance?

[Carlos Flores]

I am looking at a single-family home in Laredo, Texas listed at 70k with an ARV of around 110k. My plan is to get an FHA loan, fix it up, raise the value, and then cash out refinance 80% LTV after 6 months if possible. I was wondering if I should let the lender know about my plans to provide certainty that ill be able to make the payments because I won't have much in reserves after closing other than for the renovations and I only make 36k a year.

[Trevor Reed]

Lenders will mostly care if you plan on refi before 6 months - they have to return all the comp and no one wants to work for free nor would you want to do that to them.  Let them help you game-plan and maximize that refi.  I've walked through the very thing you are outlining.  Just be careful that you aren't buying the home as a rental under the guise of a primary home - that may put you and your lender in a tough spot.