They all say 12 months season for a cash out refi??

[Nikki Closser]

Hi Everyone! I read Andrew Postell's post about doing cash-out refi's and he says in there that if you pay for the home with cash or a HELOC that you can get a cash-out loan on day 1. I've called 4 credit unions and they all said the same thing: 12 months seasoning on an investment property even if we pay cash. They said it's a Freddie/Fannie rule.

I'm so confused!

[Steve C.]

@Nikki Closser Listen to the BP podcast with @Alexander Felice. Think it's #301 if I'm remembering right. He walks you though exactly how to put repairs into HUD, escrowed with title so it shows as part of purchase price. You can also check out his brokeisachoice website to see how he does it. Super nice, well-read dude, lots of info & worked as an underwriter. 👍🏼 also he has great hair.