What are Refi requirements(BRRR)

[Abdul King]

Hey BP, I’m going to use the BRRRR method to buy a multi family property. I’m using 20K cash and hard money. When I go to refi the property after I rehab and rent it, what are the requirements that I need to have refi the property? Are there the same requirements as if I’m getting s traditional mortgage? Do I need to have a certain credit score or income? Please help and thanks in advance!

[Alexander Felice]

talk to a lender about the underwriting before you buy the house. so you know what to expect the whole way along. 

if you use a fannie loan, it'll be 75% ARV

yes you'll need a good credit score, exact requirements will vary by lender.

all banks are different, you can't get a specific answer to a general question. you must ask the lender you're going to use what their process and requirements looks like.