What is the typical Seasoning Period

[Joe Detore]

I am looking to buy a house with a %100 cash payment (no loans or mortgage) in Florida, and will then be looking to mortgage the home utilizing a cash out option with the equity in the home and use that money to purchase another home.

My question is; How long do lenders typically say they like to see you own the home before they are willing to finance it? I believe it is mainly called a "seasoning period", probably other names as well.

Also, to get some thoughts and or suggestions on my plan, what I would like to do after I am able to finance the first home is the get it rented and have the tenants pay the first mortgage for me, buy a second home with the cash I pulled out and then once I am able to get the second house financed, use that cash to purchase a third house that I will live in.

[Nicholas Sheridan, Jr.]

6-12 months