I misread your post the first time. What is "CO" in this context? This is interesting actually; i think the argument could be made that while it's definitely a refinance, it is also still a purchase since the construction isn't yet complete and presumably your funds will be used to purchase materials that will finish the construction. I'd lean towards categorizing it as a purchase. ETA: i realize your loan isn't replacing a construction-only loan but instead is a construction-perm replacing a construction-perm....it's the fact that the home isn't actually built (at least not totally) yet that would make me lean towards calling it a purchase.
Last edited by raitchjay; 02/27/13 06:18 PM.
I'm fixin' to fix that.