brrRr Seasoning Period - When Does It Actually Begin?

[Tae C.]

Hey everyone,

I was just thinking about this the last couple days and unable to come to my own solid answer, so decided to ask all you wonderful experts out there. When it comes to the Refinance portion of BRRRR, I understand that most banks nowadays have a 6-month seasoning period. Couple questions:

1.) Does this 6 month period begin when I first obtain possession/begin my rehab, or does it not start until rehab is done?  I know, silly question, but just clarifying.

2.) Assuming the former is true in the previous question, does this 6 month period imply that I can't actually start the application process itself until Day 1 of Month 7?  Or, does it mean I can in fact start the process before the 6 month mark, as long as the actual closing of the refinance takes place on or after Day 1 of Month 7?  Hope this makes sense.

Thank you for your help!

Tae