BRRRR Lenders for Chicagoland?

[Pierce W.]

I'm an investor with a few properties in the Chicago and Chicagoland area. The lender I've been using thus far will lend on the appraised value of my properties ONLY if I've owned them for at least 1 year, otherwise they will 1) just lend on my purchase price or 2) if I wait 91 days, they will lend 100% of my purchase price + any rehab costs.

Do you know of any lenders that will lend on the appraised value right from the onset without me having to wait a certain amount of ownership time?

Thanks!

[Jason Wray]

Pierce,

You can do delayed financing meaning no wait/no seasoning but they will use purchase price and costs. If not if you have (6) months then we use the appraisal for ARV or current value.