Blessings my fellow investors, I have a questions in regards to refinancing a sub to

[Samuel Andrade]

Hey there! So I came across this subject to deal that needs some rehab and I have a question in regards to refinancing later. I will be taking over the payments and there's a balloon payment in 5 years. When refinancing, the previous owner's mortgage, does it usually require a new down payment for the refinance? Also, do they usually lend 70% of the ARV? Thank you in advance 🙏