DSCR Refinance Seasoning Question

[Jake S.]

Hey guys,

I have a condo conversion project in the works (making two units into one) and planning to close at months end. Construction should be roughly 6-8 weeks and I have a hard money loan all lined up. 85% LTC.

If appraisals come in around where they should with the ARV, my all in cost (purchase + rehab) would be less than the loan amount required to achieve a 70% LTV. Now, I have been told this may get rid of the seasoning requirement all together. If accurate, that's great.

Is that true?

My main goal here is to not need a 6 month seasoning so I can refi out of the hard money asap