New purchase like to do a cash out refi

[Shaun Marks]

So today I purchased a home and paid for that home off of a heloc I had on my personal residents so basically in banks eyes I wrote a check for the new home the seller wanted to do a quick close and didn’t want to lose out on the deal so my question is

is there a bank out there that will let me do a cash out refi from day 1 of ownership off of full appraisal for 75-90% LTV To get my heloc paid back and put some money back in my pocket I like to get a conventional 30 yr. mortgage on this property so my rate is locked and don't jump around property located in Montana

[BG Stumberg]

Hi Shaun, Where are you in Montana? I use Madison Valley Bank. They have 5-Branches, Boulder, Ennis, Bozeman, Montana City, and I cannot remember the fifth location. They do all my stuff in house so there is no seasoning period. Interest rates are a little higher but worth it in my book as they are very easy to work with. They hold all my stuff in house and consequently they allow me to do all I want. They do not limit me to 10 loans as does Fanny Mae or the secondary market. I have 10 plus year relationship with them. No better time than now to start that relationship for u. There are other small local banks that will work with u as well, just look around. In Helena where I am Bank of The Rockies, Opportunity Bank, First Community, First Security are capable of doing some of the same kind of thing. Hope this helps.