I am using a hard money lender for a home purchase and repairs, is there any lenders that
will do cash out refinance on the home using the appraised value, without seasoning requirements.
There are a still lenders available that will do the no-seasoning cash-out. However as of December 1st the seasoning will be a minimum of six months, and the property limit will be four. So you better hurry.
christopher w - what is happening on December 1st that will cause the change? I talked with a lender yesterday and she said that they do cash out refinance up to 80% of appraised value - 90 days seasoning, no property limit. Just curious to understand what is happening on December 1st that may change that…
Thank you.
Thank you.
My understanding is that the four financed property limit is a Fannie Mae conforming guideline. Freddie Mac still has a 10 financed property limit and probably will still have a 10 property limit on December 1.
Dave,
Freddie Mac went to four properties last year.