can I refinance after a purchase?

Financing, Hard Money Lenders, Private Money
1

Hello I have a unique situation that maybe someone can help me make heads and tails on.

First last month I bought a house from the company I work for , the company sold me the house for $260k it appraised out to $275k.

Ok now the company that I work for which owns all the other six acres around the house said they will give me the land around the house which did not come with the purchase of house last month.

Can I combine the land and house and then refinance this property knowing that I just bought the house last month? The new value of the property will increase to over $500k and I would like to suck out the equity if this is possible?

Thank you in advance for any help.

2

Yes and no… ::slight_smile:

More than likely the two parcels are going to have to be joined for a lender to do this without much fuss.

3

I did this exact same loan last year. What you will need to do is get the property under contract, then survey them together into one platt of land. Then you will have the ability to refinance it all into one loan. It is complicated but it can be done.