All Forum Posts by: Harjeet Bhatti

@Bryce Kammerzell Under delayed financing exception you don't have to wait 6 month, can be refinance any time after the closing. You can cash out up to 70%LTV or initial purchase price whichever is lower. This is Fannie Mae guidelines.

@Bryce Kammerzell You can cash out under delayed financing exception without seasoning period required. 

@Ray Kaufman Conventional loan has its own set of guidelines for condo approval even though you do 25% down payment it could be limited condo approval but has to go through approval process. DPA program has its own guidelines which lender has to follow on top of other guidelines. You have to make sure you know DPA guidelines before you go for  20% down payment option. 

@Thomas Baylor Gift of equity can be used for primary and 2nd home only according to Fannie Mae guidelines. 

@Alan Tripp Most of the banks will be able to do lower loan amount mortgages. 

@Robb Randy Beyer You can cash out same time by combining both mortgages. 

@Jimmy Ochoa Conventional will be good option because you don't have pay PMI when you have 20% down payment.

@Jacob Phllips  Under 4 units is residential according to guidelines. 

@Derrick Walston Yes there are some lenders can do cash out without seasoning period. Most of them will do on LLC name.

@Derrick Walston You can cash out under delayed financing exception no waiting period if you purchase property with your own funds. You have to wait 6 month if HML was used to purchase the home.