Searching for lenders who don't require a seasoning period BRRRR

[Bryan Pham]

Hello BP!

Do you guys have any recommendations for lenders who do not require a seasoning period? I am trying to refi some properties in Columbus, Ohio. 

[Kevin Romines]

@Brent Coombs You are confusing properties that are listed for sale by the seller and properties that were listed on the market and then bought by the borrower and are now being refinanced by the borrower? 

The guideline you are referring to would be if the owner and borrower on the loan request had previously listed their property for sale, then yes, they get a max. of 70% LTV. 

However the situation you have on a delayed financing transaction is one where the borrower requesting the cash out, was the one that bought the home off the market for cash or no mortgage lien, within the last 6 months and now wants a cash out refinance up to the original purchase price but no more than a max. of 75% LTV. 

I know it can be done because I have done them. I even closed on a 80% LTV delayed financing because in that case it was owner occupied. 

Below are the guidelines, please review them so the wrong information doesn't get disseminated