Buying and refi using a HELOC

[Michael Bland]

Hi, I'm interested in buying my next property but looking to use a HELOC to buy the property and then refinance to pay back the HELOC. Question, when you refi do you still have to have the 20% cash you typically need through a standard mortgage. I'm really unclear on how the refi piece works when you already technically own the home through the HELOC. Anyone done this before that has some information I would greatly appreciate it.