Private and business credit Financing
Since I have not yet obtained a private loan on a property and dont understand it's mechanics, I have a question on a specific scenario I have been playing with: If a private loan is obtained and the down payment is payed for using a cash advance on a business line of credit, could you then turn around and do a cash out refi with a conventional loan, and specifically allocate that money so that you can pay off the business credit money and a large chunk of the private loan? Thus leaving you with an 80% conventional loan and 20%private loan. And yes, I realize 100% financing is dangerous.