Seasoning Period is now 6 months to use market value for conventional financing on Cash out's

[Albert Bui]

It used to be 12 months and had limitations and restrictions when it was under 12 months prior.

New Rule: use Loan to value guidelines on market value after 6 months after acquisition

Old Rule: must wait 6 months to cash out however value used is the lower of market value or acquisition cost during months 6-12 and after 12 months we can use market value