Investment Property Refi Cash Out California

Santa Clara, CA · Member since 2017 · 1 post · 0 votes

I have a investment property (SFR) in N. California that BofA will not Refi until I have been on title for 1 year. I have been on title for over 6 months and I would like to Refi w/ cash-out. What lenders will approve a Refi with less than 1 year seasoning? BofA said that after 1 year they could Refi with cash out up to 75% LTV for an investment property. Any advice?

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Dylan VargasPro Member
Rental Property Investor · Chico, CA · Member since 2016 · 633 posts · 336 votes
9y
Ask @Chris Mason He will answer and steer you in a direction
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Chris MasonPro Member
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Lender · CA · Member since 2015 · 9k+ posts · 10k+ votes
9y
Hi @Michelle Gallegos,
Yup, you can refinance in as little as six months. "12 months to refi" is what is called a bank "overlay."
I'm going to program a bot that just auto-posts this link that is relevant to your situation: What Overlays Are and How They Kill Mortgages.
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