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Updated over 5 years ago on . Most recent reply

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David Wilson
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Hundred percent finance

David Wilson
Posted

I bought a house with 100% financing no money down just closed can I brrr that loan and refinance it Has $40,000 in it  Equity after repairs

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Dawn Brenengen
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Dawn Brenengen
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ModeratorReplied

@David Wilson You usually can refinance the home.  There may be a waiting period of 6 months before you can do so, and the bank usually wants you to leave 30% equity in it if it's an investment property. So, not sure if refinancing this one will benefit you at all as I don't know what the total value of the home is.

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