Delayed Financing Exception - Lenders near Raleigh, NC

6 Replies

Do any of you have personal experience using the delayed finaning Exception?  More specifically, have any of you used a bank local to the Raleigh, NC area to do this type of financing?  I am looking to purchase a property or two for cash, and then, hopefully pull money back out of them as quickly as possible.  What options do I have besides the delayed financing exception to accomplish this same goal?

Thank you!

Originally posted by @Stephanie Irto:

@Liliana Ruano   Any lender that offers conventional loan programs will typically offer delayed financing.  It's basically just a Fannie Mae guideline, so unless the lender has an overlay they should allow it.

 Stephanie is right - most lenders will do this.  I have done delayed financing several times - worked out great.  Call Ami Bonis (google her - I'm not sure I'm allowed to post the link) and tell her Andrew sent you

Thank you all, for your responses.  The information you all provided is what I thought to be the case, but it is nice to have confirmation.

Andrew, I've googled Ami, and will contact here in the new year.  Thanks!

Stephanie - Just curious, what is an "overlay"?


Hi all - Happy New Year!

We currently have most of our accounts with Coastal Federal Credit Union.  We have  a mortgage for a rental house with Quicken Loans.  Coastal does not finance outside the local area.  I know Quicken is likely to do delayed financing, but would you recommend lenders you have used?  We hope to acquire 2-3 houses in Indianapolis, IN (we currently have one property there w/no mortgage).  We would need either a local lender or a national one like Wells Fargo, but I would prefer not to use Wells Fargo because I have had bad experiences with them.

Many thanks in advance!