6 month Cash-out refinance lenders in Memphis?

Question

Hi guys,I am looking to start a BRRRR project later this year in Memphis, but wanted to find lenders who can cash-out refinance. I spoke with one who can refinance after 12 months, but I prefer lenders that can do it after 6 months.

This will be a SFH rental property and a conventional loan. Any recommendations/suggestions on specific lenders or brokers would be greatly appreciated!

Stephen Akindona · Answer

Aaron Chapman- security national mortgage

Richard Collins- Renasant Bank

Both refi up to 75% of appraised value with no seasoning period. I have used both to do this exact thing!

Sean Tagge · Answer

Hello @Peter Cung

I would check out the following:

Aaron Chapman with SNMC

Shannon Eney - Bank 34

Joe McBreen - bemortgage

Caeli Ridge - Ridge Lending Group

You can also check out non-traditional lenders/national companies such as:

limaonecapital

corevest

recovco

Also you might consider if you have equity in your personal residence a HELOC or cash out refinance. etc..

Best of luck!

Curt Davis · Answer

Contact Aaron Chapman with security national mortgage company. He is based in Phoenix Arizona. Refi is based on appraised value. Good luck

Peter Cung · Answer

Hey @Jackson Long! Cool, I lived in San Jose for a couple years. Loved loving there. Just was quite…. expensive… :)

To your questions:

• Yes, I am looking cash out based on ARV and repeat for subsequent deals.
• Nope - this would be my 3rd SFH in Memphis. I have a PM I like in place.
• Yes, but am open to evaluating on better note terms too. Friend of mine was suggesting 15 years.
• Well noted. I am happy to at least inquire.
• I haven’t looked at this hard, but assumed big banks wouldn’t be as open.

I’ll PM you as I’m curious to how your Memphis portfolio is doing. Will be in Memphis in a couple weeks and am happy to connect there as well!

Ametria Chaney · Answer

Great question — and Memphis is one of the best markets to BRRRR in, so you're looking in the right place. The key distinction is delayed financing vs. true no-seasoning cash-out: a lot of lenders advertise "6-month" but still cap you at your cost basis (purchase + documented rehab) until you hit their seasoning clock. Ask every lender to spell out three things in writing before you buy: seasoning requirement, whether the LTV is based on cost or ARV, and prepayment terms. DSCR cash-out around 75% LTV is usually the smoother path for scaling than fighting a conventional 12-month clock, especially if you hold in an LLC. Get two term sheets side by side — the differences will surprise you.

Erik Estrada · Answer

Hey Peter,

I see this is an older post, as of now there are lenders that do not have any seasoning requirement. Happy to connect and chat

Jordan Ray · Answer

You’re looking in the right market for BRRRR, and since you specifically mentioned Memphis, I’d recommend reaching out to Tim Smith at CrossCountry Mortgage or Ryan Guess at Northpointe Bank and discussing exactly what you’re trying to accomplish on the refinance side. Feel free to reach out if I can help at all, talk soon!

Adam Summerer · Answer

For a Memphis BRRRR SFH, ask specifically about delayed financing / short-seasoning cash-out versus true “no seasoning on full ARV” — a lot of desks that advertise 6 months still cap you at cost basis (purchase + documented rehab) until you hit their seasoning. DSCR cash-out in the ~75% LTV class is usually the easier scale path than forcing a conventional 12-month clock, especially if you vest in an LLC. Get two term sheets that spell out seasoning, LTV basis, and prepay in writing before you buy the next one.

Aj Parikh · Answer

@Peter Cung Great. Thanks for the feedback.

Peter Cung · Answer

Hi @Aj Parikh. I got in touch with @Stephen Akindona's lender recommendations and both are good contacts to work with. I ultimately went with another that I had an existing relationship with. My last deal I did a rate and term refinance to pay off a private loan 3 months after acquisition. Purchase included the rehab amount on the HUD.

6 month Cash-out refinance lenders in Memphis?

6 month Cash-out refinance lenders in Memphis?

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