NOO, Non Seasoned, Cash out Refinance

Im looking for lenders that will do cash out refinance on NOO, Non Seasoned properties. Im typically a buy and hold investor so would prefer a min. 36 month balloon. My FICO scores are good, upper 680’s. Are there still lenders available for this?? Im in SW Ohio.


The non-seasoned NOO cash-out is still available. Keep in mind that in the state of Ohio it is full doc only. The state law really only applies to OO properties, but most lenders have just made it a blanket guideline to cover second homes and NOO properties as well. Hope this helps.

As Chris mentioned, full doc only. 80% ltv based upon the after repaired value. Up to 10 financed properties. More than likely a 30yr rate will be better for you than the 3 yr.

Thanks Ben and Chris.

Good info as usual. Are there still the minimum $50k loan requirements, which at 80% ltv, equates to a $62,500 appraised value?? I assume the income from the subject properties can be used to help qualify for the new loans?

$50k is still doable.

Rental income can be used for the subject property if there is a 2 year history of rental properties.


I think you misunderstood. I dont want to have too borrow $50k if I dont want too. Im finding that most places, have a minimum $50,000 loan amount on purchases/refinances. Are you saying you can do loans less than $50k??

Possibly but we should move the dicussion off forum.