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Updated about 7 years ago,
BRRRR and mortgage insurance
So If I am going to buy a house for cash, then rehab, rent ,and refi. When I do the refi and pull 70% of my money out, once I pull my money out and have a new 30 year loan with a new bank. Does the 30% left in the loan count as money down? or am I going to have to pay mortgage insurance on the new loan? I'm trying to run the numbers on a few houses in my area and i'm confused?
Please help, thanks BP people in advance!!!