Refinancing for Dummies

[Eric Piccione]

Let's see if I got this right, a house is valued at 100k. you get a loan from a private lender for 50k, 25k of that you put for a downpayment, 25k for rehab. After a year the 100k house is now worth 150k after rehab and appreciation. The total debt is 88k since your tenant is covering 1000/m. So you refinance to get a lower percentage of interest and better term for a lower monthly mortgage. Is the loan amount based on 150k or 100k? Sorry for the drawn out question, but any help on this would be huge as it seems i've found a way to over complicate this.