Seasoning, a necessary evil ?

[Colleen McLaughlin]

I Purchased SFR end of April, secured financing for 12 months through a hard money lender (Kiavi). Now, 3 months later, my remodel is complete and I'm ready to refinance into a conventional mortgage. . . I keep hearing the property has not seasoned.

What are my alternatives? Is there a way around this?

Any lender suggestions would be very helpful to me right now. I’ve got plenty of equity in the property, it’s at the ocean and was a full remodel.

[Alex Bekeza]

@Colleen McLaughlin Even if you qualify for conventional you should consider or at least get a quote for a DSCR based/commercial loan for this and here's why:

1.) You can find seasoning periods as low as 90 days to use new appraised value for up to 75% cash out

2.)  Some of these programs are even trading inside of Fannie/Freddie rental pricing right now depending on the specific LLPAs associated with the deal! Especially when you consider the trajectory of rates over the next few months as promised by the Fed, you can see why 90 day seasoning has plenty of Fannie/Freddie qualified investors opting for a non conforming loan instead. 

*Other perks include no tax returns needed, entity vesting allowed, and a very subject property based underwriting process.