Criteria for refinancing

[Jeremy Williams]

Hypothetically I've been approved for a $70,000 loan being 70% of the purchase price of a duplex with an arv of $120,000 . once I'm into this property and I complete the required 5,000 in rehab, I'm heading to the bank for a refinance with 45,000 in equity. A normal refinance at 80% of the value gives me a 30yr fixed of 84,000, I think. Doing this in my head but I digress.

The questions

Does my credit matter with a refinance?

Does the amount of time at my job matter?

Can I refinance for the entire value of the home?

Do I need to show potential rental income?

Is the bank or credit union going to hand me a check?

Does a refinance hurt or help my credit?

Thanks anyone who can assist. If there is anything I can do to help you, let me know💵😃