Does anyone have a list of lenders that do not have title seasoning requirements? - Or situational seasoning requirements?
(etc: LTV)
If this list is not out there, then I suggest we make a one here!
I’ll start:
Wells Fargo
Flagstar
Delta does it
There’s really 2 types of title seasoning that can be addressed.
For purchases - length of time the seller has been on title. Some lenders want the seller to be on title 3-6 months; this reduces the risk of flips.
For cash out refinances - length of time the current owner has been on title. If you’re working with conventional loans, then almost no lenders have restrictions…check your Fannie Mae guidelines.
If you are working with AltA loans then you’ll run into issues as there are only a handful that off no seasoning. Under the subprime catagory, there are no lenders that offer cash out with no seasoning.
Delta is not one of them. - They have 6 month seller seasoning if you are buying a property and 12 months seasoning requirements on investment properties with cash out. However, you can use purchase price + documentable repairs for the value.
For sub-prime Decision 1 & WMC will do cash out with 6 months seasoning - owner occupied only.
Long Beach will do NOO cash-outs at 6 months.
Check out Option One… might be an issue though if the home was listed in the MLS…
i think “seasoning” is horse****
just another way for banks to try and control everything.
it’s funny, you’re the customer who’s borrowing money so they can charge you interest on the money loaned and for that, you get treated like a number, especially by the bigger corporate banks.