Delayed Financing Cash Out
I recently bought a duplex with cash from my HELOC, and am looking to cash out the property to pay off my HELOC and do it all over again. It's been four months since closing, so I have two months to go before the property is seasoned and am exploring the Fannie Mae Delayed Financing option.
Has anyone else done this? The quotes I've recieved in the last couple days are around 5-5.25%, is that the going rate for this product? Is there a rate premium on delayed financing, or am I getting the same rate I would for a seasoned non-owner occupied cash out? Thanks in advance!
