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Updated almost 4 years ago,

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4
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0
Votes
Carlos Flores
  • New to Real Estate
  • Laredo Texas
0
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4
Posts

should i let the lender know that i plan to refinance?

Carlos Flores
  • New to Real Estate
  • Laredo Texas
Posted

I am looking at a single-family home in Laredo, Texas listed at 70k with an ARV of around 110k. My plan is to get an FHA loan, fix it up, raise the value, and then cash out refinance 80% LTV after 6 months if possible. I was wondering if I should let the lender know about my plans to provide certainty that ill be able to make the payments because I won't have much in reserves after closing other than for the renovations and I only make 36k a year.

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