Cash-Out Refi. & the Seasoning Period on Investment Properties ??

[Michael Dunn]

For the year 2017 , 

can someone please tell me what the current Seasoning Period is  on Investment Properties , before you are able to do a Cash-Out Refinance ?

Thank you so much 

[Chris Mason]

Originally posted by @Michael Dunn:

Hi Chris Mason , 

Thank you for your reply 

Yeah, I would be using a Portfolio based Lender for the Purchase of the Property ...... so 6-months ( Minimum ) ?

And do some Lenders have No Seasoning Period....... meaning is the Seasoning Period based on the Individual Lenders themselves, or are there Guidelines, that they HAVE TO follow and abide by ...... 6 months minimum ?

Thank you again 

 Hi Michael,

The 6 month wait for a cash out refinance is directly from Fannie. 

• It's also specific to a cash out refinance, meaning a rate/term refinance where you just want to lower the interest rate by dropping the hard money for Agency money, but NOT pull any extra money out, has no waiting period. That might be a cause of confusion -- anyone doing Agency 30YF can market "no waiting period!" and it's true, but only for rate/term refinances. 
• I do not believe the Delayed Financing Exception will apply to your scenario, but it's worth a forum search to familiarize yourself with it.