Cash Out Refinance in TX with no Holding Period

[Vinh Le]

I currently closed on a rental property in TX and several banks have mentioned that I would need to hold the property for 6 months until I can apply for a cash-out refinance. Does anyone have a recommended lender that will be able to issue a cash-out refi without the requirement of a certain holding period? Thanks in advance!

[Alexander Felice]

6 months is a fannie guideline

Fannie also has a delayed finance program (which is fantastic) but will only allow you to pull out what you have on the HUD. Keep this in mind so next time you can add the rehab and soft costs to closing docs and then refi it all out immediately.