Why is it that NO ONE will refinance unless you have owned the home for a year?

If so, I was wondering if you would refinance to pay off the hard money lender, then have a low interest long term loan?

I bet that this IS how it was reported.

NY is bad on that end .So I bet the pro note buyers could price that better.. than someone like me.

Savannah is your best bet for buy and hold properties, but in terms of living (depending on your budget) I’d look in Effingham County (next to Chatham County, but better schools and less crime) or Richmond Hill.

It occurred to me that since these are duplex properties I could refinance each into conventional mortgages. 

It's a home equity line of credit.If you do a cash-out refinance that will become a mortgage.You should speak with some lenders about the refi before purchasing the property.

The ones I've talked to have a seasoning period of either 6 months or a year after your purchase to refinance, even if you bought it for cash.Home equity loans are something different.

Yes that's correct and most people aren't using HML's for down payments they are using them for value add deals where they can force immediate equity through rehabbing and then refinance out into a better loan program.

Hey BPers,I bought a single family property with private money and I'm looking for refinance options once I'm done with the rehab.