Issues Refinancing in BRRRR due to mortgage seasoning

[Patrick Jung]

I was given issues trying to pull a HELOC on my SFR after rehab because of "mortgage seasoning"

I purchased this SFR with conventional 80% loan.

After rehab, I still was able to pull 36k HELOC with a 6.0% rate. (was aiming for 50k)

Lender said I haven't had loan more than 12 months and under valued the property. But said they were doing me a favor by not valuing

property at the original purchase price... which they should have due to not owning the property for more than a year..

anyone else have issues with what they call "mortgage seasoning"?

Going forward I will do a cashout refi instead of HELOC.