Updated over 7 years ago on . Most recent reply
Refinancing within the same year after rehab
Hi
my questions is about refinance... We have a house and looking to rehab within 2 to 3 months. After rehab, we would like to get appraisal done and refinance as it is in BRRRR strategy... (without renting) . Thinking of flipping it. I got into a discussion with a local bank within the area. They said, if we refinance within the same year, they value the house at the purchase price..not at the new appraisal price.... I wanted to take BB investors opinion on this hick up... .. is it possible to refinance at the new appraisal value soon after the rehab..
thx