Brrrr with financing and how to refinance

[Alexandra Scardo]

I’m still trying to wrap my head around the Brrrr process. I’m planning to use financing for my first purchase. Which scenario makes more sense?

Buy using an FHA Reno then refinance with a bank

Buy with hard money then refinance with fha loan 

[Jared Hottle]

Do you have the ability to put down 20%? If so I find the easiest is going with an in-house product from a local bank. Have them finance the purchase and give you a construction line of credit. Sometimes they can do an as repaired appraisal and you can tap into equity once your work is done you can work with them to get it on the secondary market with long-term fixed rates.