All Forum Posts by: Doran Summers

@Shedrick Archangel if you using traditional Banks then you need to wait 6 months. But most other types of lenders you can refi after 30 days.

@Rodrick Frazer congrats

@Jennifer Runion what’s your rate?

@Jeanette Steward good luck in 2020.

@Tim Murphy congrats on your deal.

@Musammath Khan I agree with Dave. Banks and a hard money lenders will want a borrower to show skin in the game. If you looking for 100% best situation is to find a private lender who is willing to split some equity if it’s some in the property.

@James Baker there are some lenders who offer a no seasoning refi. Meaning you can cashout refi after 1 day of ownership.

@Wendy Smith there are better rates with 80% ltv at 6.25% for a 30 yr fixed. Let me know if you need help or have questions.

@Aaron Bashore if it’s enough equity and your lender don’t have a prepayment penalty you should be able to refi.

@Joey Moon yes. Banks might not even allow a LOC to be used for downpayment. You would probably have to liquidate the credit cards to use as cash.