Purchase with Cash then refi VS just financing

[Casey S.]

I have done some cash purchases and purchased with financing also. I dont really have any refinance experience. I am looking at purchasing a home that we would like to get closed on fast due to the rental season where I live. Obviously cash speeds things up, which we can do, but we would really like to have it financed for 30 years at a low rate with one of the big banks/ lenders.

Are there any up sides or down sides to refinancing after closing a cash deal vs just financing it to start with?

Thanks!

[Jon Holdman]

The seasoning requirement will depend on what you're using for a value. If you're willing to use the price you paid, and refi for about 70-75% of that value, you should be able to do this fairly quickly. If you want to use a new appraisal, six months to a year would be the norm.