Fannie Mae Cash Out LTV and Seasoning

[Stephen Stokes]

Does anyone have a suggestion how to get around the Fannie Mae 6 month seasoning and 70% LTV requirements for cash out refinance on multi-fam? I have a duplex that am trying to follow BRRRR strategy but running into this lending rule hurdle for a conventional refi for the long term hold. I used a hard money loan with 70% ARV to fund the purchase and rehab. I was hoping to get to 75% LTV from cash out refi after the 2.5 month rehab.

https://www.fanniemae.com/content/guide/selling/b2...

[Chris Mason]

Originally posted by @Stephen Stokes:

@Harjeet Bhatti where there is a will there is a way. 

 It will not be Agency money, so you will be giving up 1 or 2 of the following:

- Fixed rate.

- Attractive rate.

- No/Low points upfront.

- 30 yr am.

If you can identify which 1 or 2 you want to give up, and can be crystal clear when Dialing for Dollars, it'll likely save you a bunch of time.