Seasoning for conforming Rate-And-Term (no cash out) refinance

[Ryan Johnston]

Are the terms/requirements/guidelines for a conventional/conforming Rate and Term refinance different than a cash-out refi?  Not asking about the differences in the product/concept, I've got that.  Also, not talking about portfolio lending.  Looking for answers that apply to conforming, conventional Fannie/Freddie loans.  Wondering about differences in underwriting guidelines between Rate and Term and cash-out.  Specifically:

Seasoning:  Specifically, if I have a hard money/private loan for 75% of ARV, can I do a Rate and Term refi to pay off that loan without 6-month seasoning period? Any seasoning at all? Shorter? Longer?

Refinancing out of an LLC:  In this post-continuity of obligation era, properties generally have to be held personally for six months to get a conventional refi where there is a mortgage involved (I've heard there are lenders who don't require this, but I have yet to find one who's not wanting to do a portfolio loan - send me your references if you've got one!)? Are the rules more relaxed for rate and term? Can you transfer title from the LLC to a personal name at close like you could in the good ol' days?

Thanks everyone! Looking forward to your ideas!

[Upen Patel]

@Ryan Johnston For a rate-term refi there is no wait period. You can do it 1 day after settlement.

No way around the seasoning requirement if you want conventional loans. If you can doing the refi within the 1st 6 months of purchase, then you can do it as a delayed financing, but for that you have to buy the property in cash. Cash means no lien against the property. You are free to use funds from HELOC, private loans, HML by putting up another property as collateral, etc. The subject property has to be free o liens.

Good luck.