Buying Now With Cash - Refinancing After

[Chris Hernandez]

Can I use any bank/lender to refinance after I buy a home with cash? Do they have any special restrictions on the type of dwelling they finance? The reason I'm asking is I am in the process of purchasing a duplex with conventional financing but it has come to my knowledge that this duplex was noted on the appraisal as a "site condo" but with further investigation it is considered a "row house". Fannie Mae and Freddie Mac do not finance these. So my current lender is denying the loan for it. I could pay cash but I would need to refinance immediately and need to know if it would be a problem or isn't it a problem at all since I would own it. I'm confused and the seller is ready to sell to someone else.