Updated over 8 years ago on . Most recent reply

Cash Out Refinancing
I need some advice when using cash out refinancing. I intend to purchase a house through a HML. After it is Rehabbed, and Rented I would like to Refinance. I am shopping around at local banks to find out there LTV. Most bank want to know the purpose of refinancing.
Do I state that I want to repay my HML? What would be the purpose of the Refi that I would explain to the banks?