They all say 12 months season for a cash out refi??

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@Andrew Syrios I agree with Andrew. I have had my best luck with smaller local banks that tend to be more flexible. Buy cash, renovate, appraise, get 80% loan to value on appraisal with no set holding period with conventional loan. It seems regional and nationals have much stricter underwriting guidelines.

Originally posted by @Mark S. :

@Andrew Syrios I agree with Andrew. I have had my best luck with smaller local banks that tend to be more flexible. Buy cash, renovate, appraise, get 80% loan to value on appraisal with no set holding period with conventional loan. It seems regional and nationals have much stricter underwriting guidelines.

The national banks are ridiculous. I wish they had 80% LTV loans out here. Oh well...

There are plenty of private lenders out there who don't need to follow Fannie/Freddie guidelines. It's very possible to pull out 75% LTV on a property with less than 6 months seasoning. Rates are a bit higher with private lenders, but you can save a ton on not paying HML rates while you're waiting for seasoning. Not to mention the opportunity cost that comes with missing out on the next deal because your cash is tied up.

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