Will cash-out refinance affect rezoning property from residential to commercial

[Angelica Valde]

I currently own a property with no mortgage. Purchased from a church that use to use it as a daycare facility. It is currently zoned residential single family. I am wanting to cash-out refinance. I wanted to apply for a conditional use of permit for the property to run a daycare facility out of it.

I was told by zoning that it can not be used as that without re-zoning it as commercial use. If I was to accept this cash out refinance offer, then rezone the property as commercial, is that allowed? 

[Andrew Postell]

@Angelica Valde let's assume for a moment that the loan won't care if you re-zone it after closing (which is the most likely scenario)...how would you qualify for the loan when you refinanced?  Most loans will require that if it's an investment property that the property is rented with a lease.  So, there's some things that might need to happen to get the loan in the first place.  I would certainly recommend reaching out to some good loan officers in your area on how you can refinance currently first.