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Updated almost 9 years ago,
Question about BRRR? (Refinancing)
I would like to buy a property using a HELOC from my personal residence. I want to do a cash out refinance when I finish the purchase and repairs. When I apply for the refinance, will the bank want to see that I had the purchase funds in my account for 3 months? Will they care how the property was purchased when I apply for a cash out refinance? Do most people write a check against their HELOC and deposit the funds for a few months before using it to buy a property.