Does BRRRR still work in Milwaukee?

Question

I am hosting a monthly Lunch&Learn for the RPA in Milwaukee: this time one of my favorite topics: BRRRR.

This is a Facebook live event (https://www.facebook.com/AptAssocSEWI), no cost to attend and no pitching of products or services :-)

The RPA is a local non profit association for rental property owners of any size.

Account Closed · Answer

Talking point for your event: Fannie/Freddie did change the cash out refi rules as of April 1st which now requires the loan that is being paid off to be at least 12 months old to be eligible for a cash out refi.

If you can get your renovation costs with your acquisition loan (traditional financing you would use HomeStyle Renovation Loan), then you can do a rate & term refi at any time with no seasoning requirements.

These rules do not apply to non-qm and private money loans, only Fannie/Freddie.

Does BRRRR still work in Milwaukee?

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