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Updated over 8 years ago on . Most recent reply

Tim Shin's profile image
Tim Shin's profile image
Tim Shin
  • Investor
  • from Houston, Texas
  • Member since Dec 14, 2014
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Tim Shin's profile image
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Tim Shin
  • Investor
  • from Houston, Texas
  • Member since Dec 14, 2014
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Tim Shin
  • Investor
  • Houston, TX
81
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242
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Private Lending & Conventional Mortgage Advice

How long must I pay on private money before refinancing buy& hold

Tim Shin
  • Investor
  • Houston, TX
Posted

Hi All,

I was hoping I could find out what the current rules are on this from any mortgage lenders or brokers: 

If I buy a house with lended private money when can I refinance into a lower interest loan and cash out the private money folks? Is it dependent on loan-to-value?

I think I read some posts and it might be 14 months? Or is it immediate?

Thanks!

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Charlie Fitzgerald's profile image
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Charlie Fitzgerald
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  • from Las Vegas, NV
  • Member since Aug 12, 2015
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Charlie Fitzgerald's profile image
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Charlie Fitzgerald
  • Lender
  • from Las Vegas, NV
  • Member since Aug 12, 2015
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Charlie Fitzgerald
  • Lender
  • Las Vegas, NV
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Charlie Fitzgerald
  • Lender
  • Las Vegas, NV
Replied

If you have no pre-pay term in your acquisition financing, you can refinance and exit your loan anytime you can get a new loan.

  • Charlie Fitzgerald
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