Updated over 3 years ago on . Most recent reply
How long after buying before a cash out refi?
Hi, I'd like to buy a property in the 110k range (my own cash), refinance out the cash and sell it in a land trust on owner financing, deed held in escrow until fully paid off.
The niggle I see is that I think most lenders have a seasoning requirement on the property purchase before you can refi the cash. Is that true or does seasoning only apply to new mortgages?
If the above is not true I welcome any suggestion why more people don't do this.
Most Popular Reply
Some local banks will do an immediate refinance for a cash purchased house based on ARV.