Need to refinance soon after purchase!!

[Johan Zafra]

Hello BP family. I am looking for some advice and/or recommendations. I recently put an turnkey SFH under contract. The property is out of state in FL - I'm located in NJ. Before submitting the offer I reached out to a friend asking if he would be able to offer the loan/mortgage and that I have about 10% of purchase price to put down. I asked if he would do it at 5% and after a brief phone call he said yes so I moved forward with the offer. Now that the property is under contract he might be hesitant and has asked how soon I was looking to refinance. I think this is all fine, however in order to end up in a good place financially with this property I need to refinance at 80% of ARV/appraised value. I know most lenders will do 75% but I am hoping someone knows a lender that is able to work with me.

[Johan Zafra]

@Shaun Weekes yes I am getting the house at a significant discount.