Refi with 6 months seasoning

[Dave DeMarco]

Hello All,

I was looking for a lender who could refi my duplex (non-owner occupied) in the Shaker/Buckeye area of Cleveland, Ohio. The property was bought for cash and has been seasoned for 6 months. There are tenants in it (inherited) and based on comps the property would probably appraise for between 25-35K. Any thoughts on what lenders would handle this type of loan based on the seasoning and loan amount?

Thanks!

[Jacob Murphy]

If I were you, I would go to a local bank and get an Adjustable Rate Mortgage (ARM). Usually they are happy to give those out on a 5 year fixed rate and 30 year amortization. My banker gave me one of those for $250 closing costs.