BRRRR Refinance out of Hard money and HELOC
I purchased a property with a hard money loan for purchase price only. I am using a HELOC (on my personal residence) to fund renovations. My lender is saying that I will need to wait 12 months with the new rules before I can do a cash out refinance.
Is there anyway I can include paying back the HELOC in a refinance, but call it a rate and term refinance?