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Updated almost 8 years ago on . Most recent reply

Seller Finance Refi to Conventional Financing
I'm currently in discussions of putting a deal under contract where the seller is willing to seller finance. My plan is to BRRRR this property. Is there a seasoning period after the deal has closed to refinance to a conventional loan? Or can I complete it anytime after transfer of title? Appreciate the feedback!
-Kevin
Most Popular Reply
Hi Kevin - barring any prepayment penalty, you can do a rate & term refinance at any point after purchasing the property. Make sure the seller puts a lien on title for the lender to pay off so it is not treated as a cash out refinance.