Record second lien to do rate and term refi?

[Bryce Y.]

Hey guys,

Here is my situation. A couple months ago I purchased a SFH for 57.5k, put 6k into rehab with a loan of 50k. It will probably appraise for 85-90k, so at 75% LTV it will come out to about 64k loan amount. My question is if I get a second lien recorded of say 15k am I now eligible to do a rate and term refi to take out both liens?

Thanks in advance!