Rental Property Investor · Greenwich, CT · Member since 2015 · 4k+ posts · 2k+ votes
6y
Cash-out refi without seasoning, @Mariah Petzoldt? Don't count on it. Those lenders are are like unicorns. You may hear loose talk about them, but no ones actually seen one in the real world.
That said, post your question to the local forums. You may get lucky.
Rental Property Investor · Los Angeles, CA · Member since 2019 · 21 posts · 12 votes
6y
@Andrew Postell Hi! Im just looking at ALL my options. Our current lender does a 6month seasoning period for refi. Specifically what I really need to find is a lender that does cash out refi and if I find one then yes, I will buy in cash. Have you had luck?
Lender · Fort Worth, TX · Member since 2016 · 8k+ posts · 6k+ votes
6y
@Mariah Petzoldt sorry, I wish every answer could be an answer that covers all scenarios but it's just not the case with lending. There are so many variables that go into it and then your loan TYPE might be make things change too. I did write a post on how to properly structure your cash purchases using Fannie/Freddie money on the refinance step which you can find HERE. Let me know if you have any questions on it. Thanks!
Rental Property Investor · Los Angeles, CA · Member since 2019 · 21 posts · 12 votes
6y
Thank you @Andrew Postell! It is definitely hard to navigate the mortgages as a newbie but I did find 2 great lenders that do the Cash out re-fi that I was looking for. I look forward to reading your post. Thanks for reaching out and sharing your knowledge!
Washington DC area · Member since 2015 · 10 posts · 1 vote
6y
@Mariah Petzoldt I am interested in these lenders, can you DM information please? I have been researching Huntsville and Montgomery, AL. I am originally from AL.
Rental Property Investor · Madison, AL · Member since 2018 · 60 posts · 33 votes
6y
@Mariah Petzoldt Hi Mariah. I have some local lenders as well that doesn't require a seasoning period. DM me if you like their contact info. Happy Investing!!
I’d love the info as well. Please share. I’m in Huntsville and am looking to cash out refi in a few months when renovations are done and I’ve got a renter in place. This is a sub2 deal.