Refinance out of Hard Money, Low LTV, Good Credit

[jen10001]

I am trying to refinance OUT of a hard money loan with 12% interest that I took out 1.5 years ago when unemployed with no other financing options.

It is a "Second Home" but not sure it qualifies as a second home as it is only 39 miles away (we live in the desert, it is up in the mountains).

My situation is as follows:

Great credit, 740+, no foreclosures, BK, charge offs, etc.
Home value of $425K, owe $100K.
Primary residence has more than 100% LTV so no option to pull money from that.

Spent 2010 rebuilding house and living off of savings (no unemployment income, no W2, no self employment income)
2011 started a business, little income on taxes ($2K)
2012 continued self employment until June 2012 with good cash flow (8-10K/month)
June 2012 started as W-2 employee

Would obviously like to lower my rate from its current 12%, but without good tax returns in 2010/2011 not sure of my options, if any. Not looking to cash out, just want to refi the $100K owed + closing costs if possible.

Loan is obviously not Fannie/Freddie so HARP is not an option. Am in Southern Nevada.

[Cat Damiano]

Have you looked to see if you can refi into an FHA loan, or spoke to any lenders to feel them out on your scenario?

HUD FHA Lender List