Private Money Questions

[Jay Jonez]

So I have just a few questions about private money. I believe I might just be overthinking it but if anyone could help it would be greatly appreciated. I’ve been watching a lot videos and spoke to a few Private Lenders while wholesaling.

1st Question: if I have a lender willing to fund 75% of purchase price and 75% Rehab. Does this mean I’ll have to come up with a down payment?

2nd questions: I was reading that the PML can get paid if you refi. Does that mean only a “cash out refi “ or will a regular refi do the trick where the lender gets paid?

[Aaron K.]

1. Yes

2. Yes a refi means you are borrowing money from  someone else and the original lender would be paid off in full.