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Richard Dinh
  • Long Beach, CA
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Cash out refi lender

Richard Dinh
  • Long Beach, CA
Posted Sep 29 2019, 08:56

Hi all, anyone know any cash out refi lender that would be able to refi under 6 months for the state of Indiana or have recommendations that require 6m?  House just finished rehab and about to get rented out this week.   Any help would be appreciated!

Thanks!

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Jerry Padilla
Lender
#5 Classifieds Contributor
  • Lender
  • Rochester, NY
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Jerry Padilla
Lender
#5 Classifieds Contributor
  • Lender
  • Rochester, NY
Replied Sep 29 2019, 12:15

@Richard Dinh

If you paid cash you can cash out prior to 6 months with delayed financing but are subject to the purchase price plus closing costs as a ceiling limit.

For a typical cash out, you can start the process prior to 6 months and close right after you hit the 6 month mark. A SFR is an LTV of 75% and a MFR is an LTV of 70%.

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