Home loan question

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The wife and I bought a house from an individual a year and a half ago. The seller is carrying the note until we can get financing. We gave him 10k upfront as a down payment, and a few months ago an additional 12k . Question is, when I go to the bank do I tell them I'm looking to refinance or a new home loan where I've already put 22k down? Original price was 110k. The wife and I make about 85k a year. 

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Apples and oranges.   The original loan amount is a footnote in trying to (re)finance the balance of what is owed. 

Original loan was 110k

You're currently seeking 88k

Lenders will look at the improved DTI & LTV ratios but won't really care about how much you paid down a previous lender. 

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