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Updated about 7 years ago on . Most recent reply
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BRRR Lender Low Seasoning Req
I have a house that I'm closing on and plan to rent it out. If I pay cash, I want to (ideally) get all my cash back out with a refinance once we have rent coming in. Does anyone know a of a bank or lender that has minimal seasoning requirements and how long those requirements are? I'm okay with a 15 year amortization or longer, and a commercial (non-fannie type) lender.
Thanks in advance
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The Delayed Financing Exemption allows you to PAY CASH and get your money back out before six months. It is a Fannie Mae product:
https://www.fanniemae.com/content/guide/selling/b2/1.2/03.html