The option deposit and any subsequent money that was going to be applied to the purchase price is also forfeited to you.

This is a pure negotiating situation were negotiating rules apply.

So if you're going to do this, stop doing it for a month or two prior to applying for additional credit (such as another purchase or refinance mortgage) OR get the credit card company to raise the credit limit so high that your mortgage bill is some small percentage (15% or 25%) of the limit. 

First we had to sand the counters and then apply the resin.  

That fee would be applied toward the purchase price if the tenant proceeded to purchase the house.

.~ How long does it typically take from the time you apply to the time when the LOC is approved and available for use?

For information on how that applies to your case, seek out an attorney, but the beneficiary designations are related to this distinction. 

My recommendation on studying may only apply to the Washington state test so be forewarned.

Then, by using "delayed financing", apply for immediate cash out, up to the FULL purchase price (but not likely including rehab costs). https://www.fanniemae.com/content/guide/selling/b2......"

However, something to consider is when the lender runs the Automated Underwriting System (AUS) and it refers and then the lender manually underwrites and applies their own overlays.