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Updated about 8 years ago,
Cash Out Refi to meet Fannie and Freddie guideline
Hey all, its been awhile since Ive been on but I need some of the experienced investors advice or suggestions. I have refinanced houses before and have never ran into the problem of a quick transfer from my LLC to my personal name
In reference to this guideline for cash out refinance:The borrower must have been on the title to the subject property for at least six months prior to the note date of the cash-out refinance mortgage.
I typically purchase my properties in my individually owned LLC. If I go to refinance I will have to transfer out of my personal name. Can you let me know if I would have to go through another seasoning period if I transfer the property from my individually owned LLC to my personal name? This is in regards to making it freddie mac/fannie mae eligible.
Thanks all