Cash out refinance seasoning period

9 Replies

Hello All,

How long do I have to wait to refinance with a portfolio bank for the property bought with my own money? I like wait the least amount of time to refi. Is there any bank that doesn't require waiting period? Thanks in advance,

Thant

I think for conforming loans the seasoning period is 6 months. You might get different answers if you talk to portfolio lenders or credit unions that don't sell their loans. Depending on what property (ies) you want to cover, a delayed financing exemption might be the better choice. Some lenders do that. This is a Fanny Mae program you can quickly google. LTV is somewhat lower but you can delayed finance even if you have already 4 conforming mortgages. Caliber Home Loans do that.

@Andreas W.  

 is right - DFE is likely a good option for you - but you must complete the refi within 6 months of the original cash closing.  Oh, no seasoning - you can start tomorrow

Thanks @Andrew S.  reas W.  for the great info. I'll research more on Delay financing option.

@Thant H.  

You can get 75% of appraised value after 6 months with conventional

in my experience, others may be different, I am having trouble finding lenders that will do refis under 12 months.  More over, most of my properties are sub 50K.  So trying to find a lender that will do both sub 50K refi before the 12 month seasoning is something I have yet to accomplish

@Dustan Marshall  

Do you think you can combine a couple of properties (sub 50K) and get a blanket loan or something? 

not sure.  That is something that I need to explore.  Really want to develop a good relationship with a lender so that they would be willing to open up more possibilities