Don't know about an equity line, but for a refi, conforming loan standards will require that you have had the property for at least 12 months before they'll base the loan on a new appraisal.

But since you're wanting to do new constructions you will have to conform to current codes.

In my state, CA, that requires a court order and, depending on certain factors, may require a full, formal probate procedure.If a formal probate is required in your state, mostly your only refinancing choice during the probate process will be equity-based private money, which will be at higher rates and and costs than a conventional conforming loan would be.Once the property has been distributed to you by court order or executors deed (or whatever is used in TX) and you own it, you are free to shop for the best loan that your personal circumstances qualify for, as any other homeowner wishing to refinance might.Your Father's mortgage lender will probably not help you much until you get appointed executor by the court or have completed the transfer and have ownership distributed into your name.

Sounds like it conforms 100% to the advice you get all the time on BP. 

@Steve DellaPelle - I don't know what the laws are in Haverhill, but in Chicago there are tons of non-conforming units. 

It is also a vocation where practice doesn't always conform to theory, so I would expect that many would seek to learn by soaking up the experience of others.

If so, that will turn away a lot of potential buyers, they don't want to have to conform to the house, they want to be able to move into a home that feels comfortable to them.3–To whom are you marketing the property?

@Aaron KaminerWell, I believe you can only have 10 conforming loans under your name. 

Utility liens, code violations, not scheduled to be bulldozed by zoning/planning, pending variances, density changes, if it's a legal plex, conforming, non-conforming but grandfathered, etc. 

For simplicities sake your VA eligibilty depends on your location but typically it sums to the total of a conforming loan of $417k.Further, Eric Rohver, You don't have to Re-fi in order to rent the home, as long as your intentions when you purchased/last refinanced the VA loan were to use it as your primary residence, and at the time of closing it was your primary residence, you can keep on using your VA loan just like normal, if you are ordered to move by the military that is literally like a free pass to tell the bank "sorry, I'm moving and now that primary residence is a rental property".