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!