Investment refi, no seasoning, full doc, either rate/term or cash out

Financing, Hard Money Lenders, Private Money
1

Sorry if this has been asked recently. New to this site. I did search, but there is just so much to go through. Are there any lenders out there with no seasoning issues on an investment refi after a recent quit claim? Property was purchased cash about 5 months ago. I cannot now do the refi myself. I have a partner I can quit claim the property to if I can find a lender to do the refi. Partner is below 10 properties and would be full doc. Purchase was $22,000. Current appraised value after fix-up is around $60,000. Looking for 70%-80% on the refi.

Thanks for any suggestions.

2

Try Bank of America. I was told they require no seasoning.

3

If the property was purchased with cash then you should be fine. A quit claim deed will no longer work if their is a lien on the property because the person doing the refinance has to be obligated on the current note. However in your case there is no issue because there is no note.