When can I refinance?

[Fred Watson]

I recently bought a duplex with all hard money. The hard money loan expires in 6 months. I’ve had the property for about two weeks and I’m  currently doing some renovations on the property that will be completed within the next week. So in total I would have had the property for about a month and would have made only one payment toward the hard money loan. How soon can I refinance? And what would be the best strategy to refinance into a conventional so I can keep it as a rental?

[Jason Wray]

You can actually refinance sooner if you decide to go portfolio where they do not have title seasoning. Your rate will be a little higher usually between 5-6.5% but you could also opt for an interest only on a Fixed term 3/5/7. You will have a MAX LTV of 65-75% depending on property type.