Cash Out Refinance Advice

[Rion Manita]

Hello BP,

I hope all is well out there. I am looking to purchase a single family in NH for $172k (I am at 40% of my DTI for qualifying, so numbers are tight). I intend to put $50-$100k into renovating the property. I am confident, based upon comps, with the improvements it should appraise for $300-$370k, maybe more.

What is the best steps to go about this refi and does anyone recommend a lender that could really push this? keeping in mind my dti is tight. 

Do I need at least 6 months of seasoning?

Thank you in advance!

[Harjeet Bhatti]

For conventional loan you need 6 month seasoning if this property has lien on it.  When you will cash out try to get lower interest rate which will give you more room to work on your dti.