Loan rejected because home was for sale within past 6 months?!?

[Cameron Price]

I've been working on doing a cash out refinance deal, and everything was going well until today. Got a call from the bank saying that since the home was listed for sale within the past 6 months that Fannie Mae wont accept the loan... thats the first I heard of that rule. Has anybody else run i to this? I know this game we play is an ever learning process, but this caught me off guard... 

[Corey Dutton]

Yes this can be a factor in a FHA loan decline. Always talk to a mortgage broker friend about these types of things before you make assumptions. Seasoning issues are another things that many people forget to consider when buying properties that they want to later refinance. Every loan type has its own set of requirements so always ask a mortgage broker friend first!