cash out refi, no seasoning

I’m located in Pittsburgh, PA. I am in the process of purchasing 2 duplexes, 10% down at closing with seller carrying a 6 month note. Deed will transfer to my name at closing, so I will be on title. I am looking to do a cash out refi, to pay him off, and have some cash left over to buy a couple of more places. I have been investing for a few years now, but I mostly wholesale and have a couple of rental places and looking to start purchasing more rentals and this opportunity presented itself. Numbers are as follows


28K (fully occupied, brings in 800 per month)
35K (fully occupied, brings in 800 per month)

I want to do an 80%LTV cash out refi at

55-60K ( which will leave me with appox 20K cash out)
55-60 (which will leave me with approx 13K cash out)

How do I find someone to do this loan? My credit scores are good, 750,735,715 from all 3 burueas. I’m self employed, but my wife is employed and could use her also if need be.


You need a Mortgage Broker who can do “non seasoned” refinances. If you stick to 80% or less for cash out, You’ll probably be fine. I’ve seen this done with credit scores lower than you say and stating the income.

Shouldn’t matter what LTV you take cash out if you can get around the seasoning requirements. Some lenders only require 6 months, so it is just a matter of finding one of those lenders.