go off the appraised value

I have a potential client whom just purchased a home with 85,000 borrowed cash a couple weeks ago. The house will appraise for 110,000 and he is wanting to re-fi and pay off the individual that loaned the money and cash-out the difference. Question??? Can we go off the appraised value for this scenerio or the purchase price(Seasoning?). Also is title seasoning be an issue?

Texas Stated Income Less than 1 year self employed

Mid fico 627, 2×30 Mortgage, No Prepay, 40K purchase price there about, 40K liquid assets, same line of work 12 years, no bank statements or DBA, you can call and get the listing for the business on information 1411, he has a certificate of occupancy in the business name and a building permit, and he is ASE Certified Mechanic, his business is automotive, he can provide 3 letters of reference as well.  The business is around 9 months old and doing well.  Besides the 2X30 his credit is perfect.  This could go OO.

Hard Money Loan for a Rehabber in Texas

Anybody know of a true hard money lender doing loans in Texas.  Had a rehabber call me, says he needs 4 of these a month.  Says he can refer 3 more rehabbers to me. Here’s what he needs, he needs a lender willing to lend up to 65% of AFTER REPAIRED VALUE.  He is buying at 50% of LTV and needs the other 10 or 15% for repairs.  These are REO purchases. I know of 3 private lenders here in town that will do this, but they won’t work with me other than a skimpy referral fee. I’d much rather have a part of the 5 to 10 points and 15% interest they are getting if you know what I mean.