I just bought a house at the auction with an equity line. I’m looking to cash out refi and pay off the equity line with an option arm. Credit is around 780 and equity is almost 20%. The house is vacant but haven’t had an appraisal done. I figured the bank would want one of there listed people. I’m having trouble with the seasoning clause on the loans. Some say 3 months, some longer. Is there any non-seasoned loans out there in the option arm arena that anyone uses. Or does anyone have option out there they would recommend.
Thanks
Meiguy